Post-Withdrawal Britain: Why the Swiss Model Wouldn’t Work for the UK

British voters favoring leaving the European Union suggest that the country’s status could be similar to that of Norway and Switzerland. But the United Kingdom, with a population of 65 million, is not Norway or Switzerland, with 5.5 million and 8.5 million people, respectively. To access the EU market, the British would likely join the European Economic Area, like Norway, and could not escape regulations. To participate in EU programs, the UK would be expected to pay fees and follow rules without a voice in setting those rules. On the other hand, Switzerland did not join the European Economic Area, and instead relies on 150 bilateral trade agreements. About 40 percent of Swiss legislation is based on EU regulations. Swiss financial services are separate and rely on a London for access the EU. A Brexit transition would likely be long and rough. Writing for Spiegel Online, Christian Teevs concludes, “It won't be possible for the UK to turn its back on the EU politically while still maintaining all of the economic advantages of the single market.” – YaleGlobal