With the UK elections today one hot topic is the idea of a Brexit. With this in mind the Bertelsmann Stiftung ( one of the biggest research organisations in Europe) did a big research about the potential costs. I know we have a lot of Brexit supporting members here so interesting numbers for a discussion! A few bits:

If the United Kingdom exits the EU in 2018, as a consequence of the House of Commons elections on May 7, 2015 and a subsequent referendum on leaving the EU, this would have long-term negative consequences for the country's growth dynamic and economic vitality. By contrast, the economic losses for Germany and the remaining EU member states would be significantly smaller. But the bottom line is that everyone involved would lose economically and politically from the UK leaving the EU (BREXIT). This is the conclusion reached by a current Bertelsmann Stiftung study in collaboration with the ifo Institute in Munich. It is the first study that examines the consequences of a UK exit from the EU not only for the United Kingdom, but for all the other EU countries as well.

Calculating the economic effects of an EU exit is associated with many uncertainties and must take into account potential transitional periods. Three scenarios were developed to estimate the range of possible effects. In the most favorable case, the UK receives a status similar to Switzerland and still has a trade agreement with the EU. In the least favorable scenario, the country would lose all trade privileges arising from EU membership and its free trade agreements. In the year 2030 – 12 years after a possible BREXIT – we can assume that the negative effects will have shown their full impact.

Britain's GDP losses could reach 14 percent

Depending on the extent of the UK's trade policy isolation, its real gross domestic product (GDP) per capita would be between 0.6% and 3% lower in the year 2030 than if the country remained in the EU. If the percentual losses are based on values from 2014, this would mean a real GDP per capita that is €220 lower in the most favorable scenario for the UK. With more severe isolation, the lost GDP could come in at €1025 per capita. If trade economic as well as dynamic economic consequences – such as the weakening of both innovative power as well as London as a financial center – are taken into account together, the GDP losses in the unfavorable scenario could reach 14 percent. If these percentual losses are then based on values from 2014, this would correspond to a GDP that is around €313 billion lower for the entire national economy, or lower by around €4850 per capita. Possible savings such as the canceling of EU budget payments that currently total around 0.5 percent of the British GDP could not compensate for economic losses, even in the best case scenario.

Full text: https://www.bertelsmann-stiftung.de/en/topics/aktuelle-meldungen/2015/april/brexit-could-be-expensive-especially-for-the-united-kingdom/

I was really confused, and I can only come up that it's a snappy term of Britain and Exit, (referring to leaving the EU)

Yeah it's a term frequently used by the media :P

i hope they leave the EU

kick em out! but the scots stay with us, they make the best food...

Well as the article states, it won't be good for the UK. European countries would suffer too. So I think it would be best that everyone works together towards a reform of the EU instead of the constant bitching about leaving and it being bad

No, the brits have to go. there is nothing the EU could lose from it. we could have a stable finance market without london, thats way more important than losing 5% gdp in 10 years

It's pretty obvious that the Brittain's economy will hurt from this. They also won't be included in the US_EU free trade zone.

I want us to stay in Europe and help reform the EU so it's less bureaucratic and more democratic. Given the short-termism of British politics, I'm not optimistic that can happen.

The only ones who want out of the EU are the overly spoken. I mean you hear about Greece's far right a lot recently but not everyone else.

Our EU membership needs to remain, it's just the scaremongering being done by UKIP is louder than anything else.

If the general sensible people of the UK voted, we'd stay in the EU. Our issues don't come from there, it comes from our benefits system.