Brexit aftermath - a lot of fuss over nothing? The perspective of the EU-27 member states

The uncertainty of the post-Brexit relations between the UK and the remaining EU-27 countries has caused political and economic concerns (Kroll and Leuffen, 2016). The ongoing negotiations concerning future relations cover various scenarios that may have different impacts on the individual economies in both an economic and a political sense. The article analyses consequences of the British voters' decision to withdraw from the European Union through the lens of a disintegration process and its main objective is to identify the scale and the nature of individual countries vulnerability toward Brexit. It demonstrates purely economic approach to the critical assessment of Brexit, with focus on building rankings of losers. In this way, we contribute to the ongoing debate on the Brexit negotiation process by providing strong arguments in favour of certain policy decisions. In line with the 'neighbour country hypothesis' and 'small country hypothesis', we assume that small economies will experience moderate to high negative consequences of Brexit, while larger ones will not be affected as much, having regard, however, to the country's location in relation to the UK.