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International Monetary Fund. European Dept.

the U.K. (more than 170 percent of GDP in the case of Luxembourg and 58 percent of GDP in the case of Ireland). 4. Migration flows between the euro area and the U.K. are small, except for some countries with historical ties to the U.K . The number of U.K. migrants living in the euro area is small relative to the euro area population, but has increased somewhat over time. The euro area has traditionally been a net sender of migrants to the U.K. for all skill levels, with a total balance of about 0.1 percent of the euro area population as of 2010. The number of