Brexit No Deal: The Budgetary Impact on CAP - Greece and the EU27

Oliver Mas

No 2018-4, Working Papers from Agricultural University of Athens, Department Of Agricultural Economics

Abstract: The EU and the UK are currently negotiating the framework of a new bilateral relationship as a result of the UK’s decision to leave the EU. This briefing paper explores the direct consequences of Brexit on the Common Agricultural Policy (CAP) Budget of the European Union for final years (2019-2020) of the current Multi-annual Financial Framework (MFF) and investigates the ramifications for CAP Budgets of all EU Member States with a case study of Greece. Drawing on various recent contributions to the debate on the consequences of Brexit and the future of Europe, such as the research for the EU AGRI Committee and the budgetary research conducted by Alan Matthews. The paper will evaluate the scenario that the UK leaves the EU without a deal on the 29th March 2019 resulting in no transition deal or financial settlement. This scenario would leave an unprecedented funding gap for final year and three quarters of the current MFF period. This paper will also evaluate the options the EU has in order to limit the budgetary impact. The negotiations see both the EU and UK increasing rhetoric of a ‘No Deal’ outcome and both preparing for the consequences of a ‘No Deal’, thus the significance of understanding the potential implications of a ‘No Deal’ is of increasing importance.

Keywords: Brexit; CAP; Greece; Agricultural Policy (search for similar items in EconPapers)
JEL-codes: Q18 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2018
New Economics Papers: this item is included in nep-agr, nep-eec and nep-int
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Persistent link: https://EconPapers.repec.org/RePEc:aua:wpaper:2018-4

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