IMF: Hard Brexit Badly Hits The Netherlands

IMF: Hard Brexit badly Hits the Netherlands. The Netherlands is one of the countries most likely to be hit by a so-called ‘hard Brexit’, according to a calculation by the International Monetary Fund (IMF) on Friday.

If the United Kingdom leaves the European Union without trade agreements, the scenario of a strong Brexit, the Netherlands can make 0.7 percent of the gross domestic product (GDP).

The calculation of the IMF also shows that only Ireland will be hit harder. For this country, the decline would be 4 percent.

The IMF investigated the outcomes of a tough Brexit for the 27 European member states.

Also reveals that especially open economies that trade a lot with the United Kingdom, such as Ireland, the Netherlands, Denmark and Belgium, will be hit relatively more heavily.

In total, the EU would opt for an economic loss of 1.5 percent.

That amounts to more than 178 billion pounds. The United Kingdom will also have to deal with a loss of 4 percent.