New Delhi, August 1, 2019: Apeejay School of Management (ASM) organised an International Seminar on European Union and Brexit on 1st August 2019. Dr D.K. Malhotra, Professor, Thomas Jefferson University, Philadelphia, USA, addressed the faculty and students on various facets of the possible outcomes of Brexit. He provided insights on how the European Union (EU) was formed to keep a check on Germany and ensure peace in Europe, how Germany became a dominant player in the EU, how EU became one of the most successful trading blocs with significant customer centricity, level playing field for all the member countries, intense competition augmenting choices for the customers and common rules across Europe based on liberal and democratic values.
Dr Malhotra mentioned that Britain's exit from EU might be devastating for the country with limited impact on the latter. However, a section of British citizens feel that EU has created restrictive trade practices and that Britain can rebuild itself in the event of formal exit from the EU. He observed that Brexit would affect Britain in the most adverse manner which the people might not realize at the moment. Dr Malhotra said that the British currency, Pound, would crash in the wake of Brexit and the country would have severe unemployment crisis as most of the non-British entrepreneurs would leave the country to set up their manufacturing and other facilities in other parts of Europe.