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Luuk Jacobs

Brexit and economic impact; fear or facts

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Luuk Jacobs
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WWW.BBC.CO.UK

The Bank of England warns the pound could plummet 25% and the economy shrink 8% in a no-deal scenario.

 

As mentioned in the article "The problem is that these kind of warnings, however well-grounded in facts and figures, are too easily written off as "project fear". The more scary they sound, the easier they are to dismiss." This might count for the general public although you would hope that politicians and MP's would be focussing on the facts and as a consequence would make decisions in the best interest of the country.

I attended an IESE event in September in London where #javierdiazgiminez was talking about Brexit, Europe and the Global Economy. the picture he presented was very much in line with that of the BoE. Even more worrying within these scenario's is that while the UK would potentially fall into a recession the rest of the world moves ahead ie their economies continue growing. This means for the UK economy to catch up would take 10-15 years in which the UK economy would have to grow above its historic average. With all current EU trade relationships having to be renegotiated, I just wonder how that above average growth can be achieved in the short run

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