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Transformation of Ukraine's Eurointegration Goals in the Context of Brexit

Journal: Herald of the Economic Sciences of Ukraine (Vol.33, No. 2)

Publication Date:

Authors : ;

Page : 70-77

Keywords : Brexit; geopolitics; geo-economics; eurointegration; EU Constitution; EU enlargement;

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Abstract

European integration has been a successful if not a crisis-free endeavour. One of the most precarious of crises was Brexit. It negatively affected the geopolitical and geo-economic positions of the EU and threatened the community unity through “domino effect”. The European Union faces the challenge of finding compensators in the time when no European non-EU country, in the short and medium term, is able to compensate for the reduction of economic potential caused by the exit of the United Kingdom. In addition to Turkey, which is a candidate for accession to the EU, but cannot be accepted in the near future on political grounds, the only viable way of compensating for territorial and demographic losses would be granting the EU membership to currently associated Ukraine. Ukraine also has a sufficient and diverse potential to compensate for the reduction of important resources in the EU, namely land, steppe, forest, water, tourist and recreational, historical and cultural, flora and fauna (forest berries, mushrooms, fruits of wild plants, medicinal plants, sea buckthorn, cranberries, sweet flag, dwarf everlast, spring pheasant's eye, St. John's wort, valerian, Cornelian cherry), minerals, seashells. Ukraine can become an important factor in compensating for the economic losses of the European Union caused by Brexit, provided that the system of reforming all spheres of state formation is implemented with the help of the EU. Admission to the EU of the Western Balkans, Georgia, Moldova and Ukraine will bring the EU closer to the economic potential of the EU-28. At the same time, the scenario of membership of the EFTA countries (Iceland, Norway, Liechtenstein, Switzerland), whose applications are postponed or frozen, cannot be ruled out.

Last modified: 2018-04-09 00:37:43