Wallström: Brexit could lead to EU break up

Johan Schück writes in Dagens Nyheter about the impact that a Brexit would have on Swedish trade. Whatever the arrangement that the EU would have with the UK in the event of a British exit, it would imply trade barriers between Sweden and the UK, meaning that Swedish business would face difficulties in a market that corresponds to 7% of Swedish export. Another area of concern is that British corporations are number three when it comes to foreign direct investments into Sweden, with assets of SEK 300 billion. What will happen to those investments is uncertain, argues Schück. What is certain is that there seems to be little readiness in Sweden for an eventual Brexit. Moreover, Sweden would no longer be able to count on British backing in promoting free trade and competitiveness within the EU, where protectionism is likely to grow stronger. Even more alarming were the predictions of the Minister for Foreign Affairs, Margot Wallström (S), which she made upon being interviewed by the BBC. Wallström believes that Britain’s referendum could lead to a break-up of the EU, caused by a domino effect of demands for referendums and requests for preferential terms by other member states. “The spill-over effect will be unfortunately felt, deeply felt…It would be bad either way,” she added. The UK referendum will take place on 23 June.

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Adin Mezquida Slette is a journalist at Mundus News and a regular contributor to the Monthly Policy Review. She holds a Major in Urban Planning from the Department of Human Geography, Stockholm University. She has additional credits in political science and economy from the American University of Paris, Universidad de la República, Uruguay and Stockolm University. Adin has worked as a Political Advisor to a County Council Commissioner at the Stockholm County Council with regional planning as her area of expertise. The past 12 years she has spent abroad. 10 years in Singapore and now since two years in the UAE were she has been raising a family and pursuing several projects of personal interest always keeping alive a strong interest for politics, economy and the environment.