Amid the Brexit hysteria over the weekend, Google reported that – in Britain – the most googled questions were:
(1) How will Brexit effect me?”, and
(2) “What is the EU?”
Worldwide – and, probably among pontificating blowhard pundits — it was simply “What is the EU?”.
As a service to loyal readers, here are some key EU statistics.
Some facts worth noting:
Total GDP for the 28 EU countries is only about 10% more than the U.S. GDP ($18.5 trillion to $16.8)
The Top 5 EU economies – Germany, UK, France, Italy, Spain – account for more than 70% of the EU’s GDP.
Together,, the UK and Germany account for almost 40% of EU GDP
Specifically, the UK’s GDP is roughly 16% …. but, the UK only got 8% of the votes in the EP (European Parliament)
And, there’s more …
The smallest 7 EU economies account for less than 1.5% of the EU’s total GDP
Despite their limited economic contribution, the 7 smallest economies get 36 EP votes … 7 more than the UK.
As psychologist Fabio Sani of Scotland’s University of Dundee opined in Time:
“Social researchers know that identity with a group is normally stronger when one has a sense of having a strong voice within that group … many of the anti-European Union people wanted to exit because they felt that the U.K. doesn’t have a strong voice in Europe.”
click for the entire EU Summary PDF