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British exit from European Union would cost UK billions, German study warns
A British exit from the European Union could cost the UK as much as €300bn (£215bn), or 14% of GDP, according to a German study. The report from two respected German institutes warns of far-reaching consequences for the whole region should next week’s UK general election pave the way for a referendum on EU membership, as promised by the Conservatives, and ultimately a British departure from the bloc. Even under the best-case scenario, where an independent UK has a trade agreement with the EU, the costs would outweigh the benefits, claims the study by the Bertelsmann Stiftung (foundation) and ifo Institute. ... (full story)