Academic Paper from the year 2016 in the subject Economics -
International Economic Relations, grade: 18 (90%), Grenoble Ecole de
Management, language: English, abstract: In 1973 the United Kingdom
joined the European Union and the Single Market. Through this
partnership, both economies grew and benefited from each other. However,
recently politicians have questioned the United Kingdom's membership in
the European Union and the Single Market, which led to political events
such as the referendum for the Brexit. As the majority of the population
decided to vote in favor of the Brexit, the necessity to analyze the
dependency of the United Kingdom on the Single Market has increased.
This report provides an analysis of that dependency with respect to
different groups of stakeholders, including companies in the industrial
and service sectors as well as communities. The analysis is followed by
an identification and evaluation of the most plausible trade
alternatives. The findings of the report state that the United Kingdom
highly depends on access to the Single Market on the short-term
perspective, might be able to reduce it on the long-term perspective,
but will unlikely become completely independent from the access to the
Single Market.