Political and economic implications for Sweden as a result of the Brexit vote ⋆

Political and economic implications for Sweden as a result of the Brexit vote



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Britons voted last Friday on a referendum for the withdrawal of Britain from the European Union, and the result was disappointing for many of the “Bremain” supporters.

Sweden is one of the biggest supporters of Britain to remain in the European Union, because Britain is key ally of Sweden in the EU, and Britain’s exit means that Sweden will lose its most important ally and have to look for other allies.

The Swedish Foreign Minister, Margot Wallström, expressed her disappointment of the vote result in a tweet on her account in Twitter in which she wrote “A dark day for us who believe in European cooperation and solidarity as a way to tackle security threats, climate change and injustice.”

 


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Perhaps one of the most important consequences of the vote result is the rapid decline in global stock markets, as well as the pound loss of more than 10 percent of its value.

But Swedish economists warn of panic and the rush to sell shares because the sale in this case would result in the inevitable loss in light of low prices, and it is best to consider the decline in the stock market as an initial respond to the outcome of the referendum but the it will fade away soon.

Britain is the fourth largest importer of Swedish products, and many now wonder what will happen when Britain gets out of the EU, will there be import tariffs on Swedish goods that will enter the British market? This will definitely raise the prices of Swedish goods and therefore sales will be significantly be reduced, and this will negatively affect the Swedish economy in general.

 



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