Wednesday, February 17, 2016

Economists warn about Brexit

An overwhelming majority of economists warn that Britain’s economy would be worse off if voters decide the country should leave the European Union.
According to the economists polled by Reuters all but one of 28 economists in the poll taken this week said the Britain would take a hit if the vote – which could take place by June – meant exiting the EU.
Supporters of Britain leaving the EU say companies would be less bound by red tape, the country would be able to strike its own free trade deals and its existing EU partners would not want to hurt bilateral trade.
Analysts at some of the world’s biggest banks said an exit could shrink Britain’s economy by as much as 2 percent over the next couple of years and could take as much as 10 percentage points off GDP over the next decade.
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