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Who has more to fear from the British exit from the European Union, the UK or those countries who remain part of the EU? There is no simple answer to the question and without the benefit of a crystal ball it is very difficult to tell. But what is clear is that the EU will be losing its second biggest economy and Britain was a "payer" rather than an "invited guest".

The EU is in a very difficult situation. If it gives Britain a generous divorce settlement, then other countries may follow suit and decide to pull out as well. So the coming months are going to be interesting. Damage from the referendum result has so far been limited, the drop in the value of sterling against the euro is probably the biggest consequence of Brexit at the moment. Also, the EU is busy trying to establish what went wrong.

I thought that it was interesting to read that our very own Balearic MEP, Rosa Estaras, said that the EU could have done more to help the "Remain" camp. My thoughts exactly. The EU did very little and I do not understand why. I have even thought that they may have wanted Britain to leave after all. No European leader made a direct appeal to the people of Britain to stay. I am sure that if German Chancellor Angela Merkel had made a televised appeal to the British people, the referendum result may have been very different indeed.