Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/297471 
Year of Publication: 
2019
Citation: 
[Journal:] Contemporary Economics [ISSN:] 2300-8814 [Volume:] 13 [Issue:] 1 [Year:] 2019 [Pages:] 99-106
Publisher: 
University of Finance and Management in Warsaw, Faculty of Management and Finance, Warsaw
Abstract: 
This article addresses an anomaly in the European Union (EU)'s recent evolution. Two years ago, Great Britain's exit from the EU seemed improbable, while Greece's departure appeared to be imminent. The outcome was precisely the reverse. We explain the paradox and examine its ramifications. The principal finding is that Brexit should be less disruptive than initially supposed if the EU responds constructively by filling the gaps in its institutional setup that reduce the system's vulnerability to asymmetric shocks. Greece's decision to remain enhances the prospects for Eurozone reform.
Subjects: 
Brexit
Grexit
Eurozone
JEL: 
F36
H63
H77
P11
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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