France is the biggest winner of Brexit

English2019. dec 11.GOVERNOR MATOLCSY100WORDS

Some argue that Britain’s presence in the EU provided an element of balance /Philip Stephens, FT, 8 November 2019/ and due to Brexit, France would be a loser.

Absolutely not, just on the contrary.

Britain used to be one of the biggest winners of the EU. Having lost its industrial base gained large export markets for the British service sector and via the opt-out policies it did not suffer from the euro and the austerity policies of the EU.

It was blatant that Britain could not balance German power within the EU. France had close to zero negotiating power against German interests, with or without British support.

Apart from America, France will be the biggest winner of Brexit. It will lose nothing and all southern members will join France to balance German power.

Re “France is a big loser from Brexit”

Governor Matolcsy, MNB, the Central Bank of Hungary

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