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The EU's negotiators cannot lose sight of the fact that the U.K. will still be important to Europe outside of the EU. One of the biggest risks now, for the EU as much as for the U.K., is that the latter will leave with nothing, and end up in an even worse state than it is already in.Before Brexit got underway, the U.K. had a very strong hand to play within the EU, and thus on the world stage, owing not least to its special relationship with the U.S.The British economy is – or, at least, was – a gateway for many international corporations seeking access to the EU single market and the eurozone, despite the U.K.'s refusal to join the single currency.Still, it is worth remembering that by the early 1970s, the U.K. had lost its empire and the political clout that went with it; and that it only managed to reverse its economic decline by joining the European Community (the precursor to the EU) in 1973 . But now that the U.K. is withdrawing from the EU, it is becoming increasingly clear that it stands to lose a great deal, economically and politically. The U.K. will not be the only loser from Brexit.The EU and the U.K. will remain geographically close, and thus geopolitically dependent on one another.
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