Non-euro countries in the EU after Brexit: Between fear of losing of political influence and Euro accession

Paweł Tokarski and Serafina Funk

No 3/2019, SWP Comments from Stiftung Wissenschaft und Politik (SWP), German Institute for International and Security Affairs

Abstract: Despite the United Kingdom never having adopted the euro, the upcoming Brexit will have consequences not only for the European Union as a whole but also for monetary integration. The UK's withdrawal from the EU will heighten fears among the 'euro-outs', the eight Member States that have not adopted the euro, that their influence over the Union's decision-making processes will diminish in the future. Their concern has led to the formation of a new coalition of states uniting the interests of the north­ern euro members and some countries outside the eurozone. Although the debate over enlarging the eurozone is now subsiding, the 'Brexit moment' could trigger a new dynamic and act as a driver for expanding the eurozone or strengthening some non-euro states' links to the banking union.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:swpcom:32019

DOI: 10.18449/2019C03

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