The United Kingdom is stating that since 2 years the celebrated referendum of june 2016 is in process. The citizens of the Anglo-Saxon country voted in favor of the United Kingdom leaving the Group of the European Union. The success of Brexit with fifty-two percent of the total votes. Immediately afterwards, the Article 50 of the Lisbon Treaty was formally initiated, meaning that the United Kingdom would have 2 years to leave the common block.
November 25, 2018, EU leaders met to decide on the Brexit agreement that they subsequently approved. For this to be a reality it is necessary for the British Parliament to approve it.
If the Brexit becomes effective, it will most likely affect the commercial relations of the United Kingdom with the other European members, including Spain, as it is included in the list of the most affected.
It provides a greater depreciation of the pound sterling compared to the Euro, decreases the purchasing power of the English, and in turn reduces the range of business profitability in the United Kingdom. Considering that Brexit’s effects on the English currency are already evident, in November it presented a 1.5% drop against the dollar, after the Brexit negotiations were announced.
Brexit will be detrimental to the Spanish economy due to the high investment volumes of Spanish companies in the United Kingdom.
A dozen multinationals located in the city of London have already decided or transmitted their intention to move their offices to Madrid, which competes with Paris or Frankfurt, in search of a place within the European Union.
High migratory flows are predicted, France is preparing to receive more than 20,000 jobs from across the English Channel.