There have been $800 million worth of bankers' bonuses that have been wiped out since the EU referendum. Is Brexit going to cause long-term harm to the continent?
Yes, Brexit will cause long-term harm to Europe.
Many believe that the United Kingdom's Brexit vote to leave the European Union will cause economic harm for Europe. There have already been substantial losses in global financial markets since the vote. Further market turmoil, less free trade and uncertainty will hurt business investment in the continent; eventually slowing down economic growth. A slow down in economy growth will cause long-term harm for the continent.
Brexit likely will cause long-term harm to the European continent
While one may or may not argue that bankers are sometimes overpaid, the fact remains that the UK referendum has had a negative effect on the world economy. It is likely that with the planned breaking away of the UK from the the European continent, Brexit will result in lower economic conditions in the future for foreign markets, including the European continent.
Yes, Brexit will have an impact on the EU economy.
In an increasingly global economy, a devastating blow to one country's financial situation cannot help but have a negative impact on the rest of the world. British banks do not only handle British money: investors from all around the world had funds involved in the British economy, and their neighbors on the continent will feel that impact stronger than most.
No, the EU will not see long term harm, but rather a correction to the economy.
No, Brexit will not cause long-term harm to the continent. Bankers may be worried about their bonuses, but if they have earned that much in extra pay, it is apparent that they are good at their job. With that said, they should put their frustration and ingenuity to work to make Europe more streamlined and use it as a betterment to their society. If they will keep panic to a minimum, the negative effects will only be short-term while the learning curve is completed.
