From June 2016, The United Kingdom ceased to be a member of the European Union (EU). The United Kingdom withdrew from the EU after the majority of its citizens unanimously supported the exit decision through a referendum. According to stock market analyst Flavio Maluf, this departure will cause a significant drop in the stock market and will a have a long-term effect on the worldwide economy.
The EU published its financial reports back in 2014. According to these results, most of the contributions came from the United Kingdom. Flavio supports Paulo Figueiredo’s perspectives that UK’s decision to withdraw from the EU will decrease the number of oversea investors, who are willing to invest in the country. Paulo Figueiredo is the current director of the renowned FN Capital Operations.
Members of the European Union usually engage in a tax-free trade. After the UK withdrew from the EU, the country will now have new tax rates for all its trading activities. This new measure will have an impact on foreign trade conducted between the UK and EU member nations. Furthermore, the UK will be required to reach bilateral agreements regarding trade taxes with any country that belongs to the EU.
Flavio also pointed out that Brazil will reap benefits from the UK’s departure from the EU. He noted that Brazil would now be in a position to reach bilateral agreements with the UK. Most of the EU’s financial support originated from the UK, with France and Germany following closely. Apparently, France has shown signs of flaws in its national economy. Germany is now the EU’s flag since it is only remaining member country that has a strong economy. The Brexit will hugely affect the operation of the EU.
As the Eucatex’s president and a Brazilian entrepreneur, Flavio is an influential investor in the Brazilian business sector. He serves as the president of GrandFood Group. Flavio attended the Armando Alvares Penteado Foundation (FAAP) in Brazil and studied mechanical engineering. He also enrolled at the New York University and attained a postgrad in business administration.
His company, Eucatex, specializes in tree byproducts. Its products are mainly sold to woodworking and civil engineering companies. In addition to running business ventures, Flavio financial supports organizations such as the LANG Carli Hospital and Maternity.