Brexit | Miruna Suciu, law firm Suciu Popa: “British companies will not necessarily leave Romania”

Miruna Suciu, the managing partner at law firm Suciu Popa, tells BR that the economic climate will worsen after the British voted to exit the European Union.

However, she suggested that British companies operating in Romania will not leave the country, adding that we might see a “turbulent” period in Europe and the perception of investors will be rather negative in the next months.

“We have been unpleasantly surprised (by the Brexit vote – e.n.) and I think it will have an echo. First of all, the financial markets will fall, something which is already happening. (…) The confidence (of investors e.n) will fall, the investors will not necessarily run away but in any case they will be cautious for a while. (…) I am expecting the economic climate to worsen in the upcoming period.

Read how Romanian policymakers, economists and analysts reacted to the Brexit vote

British companies will not necessarily leave Romania, because they are not here based on passporting. If they have operations here, they will continue to work without disruptions if they have subsidiaries in the country.

I think that we will witness a turbulent period in Europe, until people get used to this idea.

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The exit is guaranteed now, but will not happen immediately. However, negative perception in the next 4-5 months is important, as market and investors will react causing turbulences globally and in the region, which may negatively impact Romania in the short term,” said Suciu.

Ovidiu Posirca