This report examines the impact Brexit would have not only on the UK, but also on other countries in the EU. 

The key findings of the report are:

• Deep trading, investment and financial links combined with a shared liberal outlook means the Netherlands ranks as the member state most exposed to Brexit.
• The fragmentation of Europe’s financial sector would increase the cost of raising finance for European businesses, with the costs ultimately borne by European households.
• The balance of influence in Europe would shift from the liberalising north to the interventionist south, with Berlin more exposed in policy debates and finding it harder to block initiatives.
• There is a risk of ‘political contagion’ from Brexit as it could fuel Euroscepticism elsewhere, particularly if the UK is seen to benefit in politically sensitive areas like migration.
• Brexit would mean years of uncertainty and wrangling to establish a new relationship between Britain and the EU, which would be damaging for businesses trading with and invested in the UK.
• All member states will feel the impact of Brexit as Europe will lose international esteem and foreign policy influence and have less leverage in trade negotiations.