How Brexit is hitting the pockets of UK nationals in the EU

The euphoria expressed by Mr Watkins and Mr Brown, on Global247news, 7 April, when the value of sterling momentarily reached €1.18 needs to be put into perspective.

How Brexit is hitting the pockets of UK nationals in the EU. Whilst stronger sterling is good news for anyone living in the euro area but with an income in GBP, the pound is still significantly weaker than before the referendum.

At the rate the two gentlemen were celebrating, £1000 was still worth €120 less than just before the referendum.

And, unfortunately, at today’s rate, just a few weeks later, that figure is looking more like €150. It is always important with exchange rates to take the long view.

Whether you believe there is a link between Brexit and the exchange rate or not, Brexit has overall made us worse off, both financially and in lost opportunities.

Goods ordered from the UK cost more (if you can get them). It is harder to have a bank account in the UK, now that UK banks are on the outside looking in.

Many British citizens in the EU have had their UK bank accounts closed making managing their finances more difficult.

Applying for or renewing residency cards costs money plus time and travel, sometimes hundreds of kilometres.

Getting citizenship in a host country, a ‘must’ for some people to protect their livelihoods, involves considerable costs and sometimes very lengthy procedures, even taking several years.

Of course, not all will be able to meet the citizenship requirements. Our children and grandchildren must now pay higher fees to study in other EU states, and even in the UK from 2028.

The difference can run into thousands. Whether these young people study in the EU or UK, the doors of one or other will not be as wide open when it comes to getting jobs.

These are just a few examples of the costs of Brexit, costs that hit those on low incomes hardest. The satisfaction of extra euros in your pocket today or tomorrow, thanks to the exchange rate, needs to be seen in the context of the wider picture.

Article contributed by:

Clarissa Killwick, Brexpats – Hear Our Voice
Pan-European citizens’ rights campaigning and support group


3 thoughts on “How Brexit is hitting the pockets of UK nationals in the EU”
  1. An interesting read that paints a bleak picture of the future and how the effects of Brexit are likely to be felt by the young long into the future. It strikes me that it isn’t just UK citizens on the EU who will be hit, but all UK citizens. We have all, about 66m of us, lost many rights acquired as a result of ‘Brexit’, which looks nothing like Vote Leave promised. Obviously, EU citizens have also lost rights in the UK. The UK Government, the European Commission, UK’s Parliament and the European Parliament have all failed ‘the people’ they represent – especially those who may not have a vote at the moment.

    1. I for one can not see how the EU has failed the people they represent as it was the UK who left the EU it did not get kicked out by the EU

      1. You may be the only one. Yes, the UK Government did decide to act upon the 2016 referendum as though it was ‘the will of the people’. Both UK and EU failed in their assurances that rights acquired by UK citizens and exercised by EU citizens in the UK, would be protected – those promises were made by both ‘sides’; indeed were supposed to be assured before negotiations proceeded beyond Phase 1. Some rights, such as those to a vote in places they reside, mean that those citizens have no democratic voice. Some, such a freedom to move within the EU for UK residents in the EU, were entirely in the gift of the EU and its members states. Governments and the EU have let citizens down.

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