According to a report, major global markets such as the US, China, Japan, India, Canada, Australia and New Zealand are likely to lose interest in the EU, if the full exit of UK from the EU goes ahead. Reason: very few people in these countries know any European languages, except English, says a study carried out as part of Europe 2016 Wealth Report by New World Wealth.
According to the report, after Brexit, Ireland will be the only English speaking country left in the EU. This will likely result in a large inflow of EU migrants into Ireland as most EU citizens have English as their second language (very few EU citizens know French, German or other European languages). UK’s exit will also have its impact on Turkey’s plan of joining the EU, which is less likely to materialise now.
For many EU citizens, the possibility of going to the UK without restriction was the cherry on the cake as it was an English speaking country with a good social welfare system and offered a route to other English speaking countries such as the US and Australia through work transfers. However, with Brexit, this facility would go away and it will become the main factor that encourages other countries to leave the EU.
The study suggests that UK should re-introduce two year working visas for young people from other English speaking countries like Australia, New Zealand and Canada. This will ensure that well educated young people continue to come to the UK.