Conclusion

As of now, we notice that a referendum on Brexit is almost certain. While the outcome is far from a foregone conclusion, a vote for Britain to leave the EU is very much possible. The impact of Brexit on British businesses, the UK economy and wider British interests would be severe across multiple channels. Based on the overall analysis and critical review of the study, we analyze that UK might experience particular difficulties after Brexit. But in long term the crack might be filled out. It will depend on how UK would approach the world in various terms. In fact, both the path and the endpoint, in terms of the new relationship between the UK and the rest of the EU, would be uncertain, compounding the costs to the UK. In addition, the direct impact on the rest of the EU would also be significant. The export, supply chain, investment and policy interests of many large corporates would be adversely affected. Nonetheless, perhaps the single biggest impact might be on the cost of raising finance in Europe which is likely to increase. Brexit would have a wider political impact on the EU, by disrupting internal political dynamics and risk of political contagion. Europe would also lose esteem and influence around the globe. Further, member states would be affected in different ways and to different extents. This might most likely influence ways in which states are willing to engage and accommodate the UK during the pre-referendum negotiation. All member states would, however, feel the impact of Brexit, both politically and economically. Therefore, there is still much curiosity about the ultimate consequence of Brexit in global political and business paradigm shift.