Brexit will complicate Slovakia’s EU Presidency

According to the Government Proxy for the Slovak EU Council Presidency Ivan Korčok, the best possible result for the Slovak Presidency would be if Great Britain stays in the EU. Speaking on public broadcasters RTVS Sunday political discussion, Korčok said the referendum on Britain's EU membership is only the beginning. The whole process of its exit from the EU could take up to two years. Nevertheless, he assumes there will be 'very limited patience' on the part of the remaining 27 member states. It is important that Slovakia manages this major responsibility well. The Great Britain's departure from the EU would likely cause a slowdown in Britain's economic growth, due to the weakening of the country's foreign trade. According to the current analysis of UniCredit Bank, this would also concern Slovakia and the Czech Republic. "Most exports from Slovakia to the UK are consumer goods. The highest ratio is cars, which make up 46% of total exports, and televisions, which make up 18% of total exports," said UniCredit Bank Slovakia analyst Ľubomír Koršňák.