The consequences of Brexit for national economies are not yet accurately known, but re is little doubt that impact will be hard and that it would force decisions and business strategies to be remade. The European Committee of Regions is coordinating a study on this cost for European provinces and communities. In case of Spain, opinion cannot be clearer: re will be an intense efectación in tourism (especially in Andalusia, Valencian Community, Balearic and Canary Islands), real estate market (dependent on tourism), agricultural exports and, in case of Euskadi, Important risks in automotive, aerospace, energy and financial markets. Gibraltar is a special case: Andalusia estimates that almost 59% of 10,000 Spanish workers working in rock will be affected in ir jobs and salaries.Previous Editorials
Good Brexit for EU (09/12/2017)
Threat to euro (14/10/2017)
The damage to autonomous Communities may be considerable, but re is good reason to believe that it can be alleviated by appropriate compensatory policies. The most successful strategy is that autonomies, as decentralized managers of economic activity, would have to conclude with central government a cooperation Plan to compensate for losses arising from Brexit. It is not so much a question of claiming compensation or subsidies as of planning recovery of economic activity in markets most affected by Brexit. This Plan should focus on investments in sectors with more value added than tourism (if possible).
The Government also has a decisive job in Brussels: to defend community budgets from being maintained, in order to support legitimate contribution of Community funds to Spanish regions. This continuity is essential, because agriculture and agricultural exports are a recurrent potential damage to all Spanish regions.
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