Britain will leave the EU before September 2017

It is estimated that Brexit will cause Britain to lose a stable market of 500 million people in European Union countries.

On October 1, British Prime Minister Theresa May announced that the country will activate Article 50 to begin the formal process of leaving the European Union before September 2017. Mrs. May also said that the country will rule out an early general election because, according to her, it would destabilize the country.

British people support Brexit. (Photo: AP)

Previously, on June 23, the referendum to decide Britain's membership status in the European Union (EU) ended with the victory belonging to the pro-Brexit side, 51.9%, while the side wishing to stay was 48.1%.

Experts predict that this broken “marriage” will have many negative impacts. It is estimated that Brexit will cause the UK to lose a stable market of 500 million people in the European Union countries, leading to a loss of 6% of the gross domestic product (GDP) in 2020, because more than half of the UK’s exports are currently destined for EU countries, contributing 4-5% of GDP.

In addition, the banking industry, which contributes up to 8% of the UK's total economic output, will also be affected when the UK is no longer a member of the European Union./.

According to VOV