An excellent piece in Der Spiegel on the costs of Brexit to the EU sets out what we already knew in terms of the UK budget contribution. The loss of a net 12.7bn€ a year will mean Germany will in future have to pay 25% of the EU's budget - with the other 26 states sharing the remaining 75% cost. With the costs of resettling a million migrants and the country's basic infrastructure now tired to the point of collapse and in desperate need of investment, this will put some strain on Europe's wealthiest nation.
However, it gets worse. I never knew much about the EIB and the UK's stake in it. It seems we have some 40bn€ in share capital - 16%. The EIB can lend 2.5x its share capital. They're worried that if we take our 40bn€ back, the bank's loan ceiling reduces by 100bn€. Of course the UK has some outstanding loans - but we've made the least use of any EU member of the facility, and despite having 16% of the share capital have only 8% of the loans. Again, all eyes will be on Germany to make up the shortfall.
Of course, the EU could slash its budget - taking the UK's 13bn€ contribution from the CAP would still leave 42bn€ in place, for example. But the French, who hog the lion's share of the CAP, would never agree to a 24% cut.
With the Eurozone economy still pretty much flatlining, don't expect Mrs May to be popular in Europe, and in particular Germany, in the near future.