IMF warns of ‘disruptive’ Brexit threat

Europe’s economy is now hitting its stride, according to the International Monetary Fund. But, as Ciara lee reports, a disruptive Brexit could result in “appreciably” lower growth for Britain and the euro zone.

(Reuters) – Arriving en masse.

Business leaders at number 10 to put pressure on the Prime Minister to speed up Brexit negotiations.

Concern is now mounting that Britain may crash out of the world’s biggest trading bloc without a deal.

SWISSQUOTE BANK, HEAD OF MARKET STRATEGY, PETER ROSENSTREICH,

“The chief negotiator recently said that they are drawing up plans for a collapse in negotiations. So I think it’s going to be difficult for both sides to come down successfully and realize that the importance between both the U.K. and Europe is at stake.”

May has invited 15 business groups from Britain and continental Europe for talks

She wants them to back her Brexit strategy and persuade companies not to move overseas.

But there doubts emerging over whether she herself has the clout to get Britain the deal it needs.

SWISSQUOTE BANK, HEAD OF MARKET STRATEGY, PETER ROSENSTREICH,

“The UK needs to put forward a position of power and that’s no longer in the hands of Prime Minister May. You know there’s a contentious issue about the cost of the bailout and it’s difficult for the U.K. people to swallow. Yet this is what the EU negotiators are demanding to get before they move on to other topics.”

And there’s a lot at stake – sterling has fallen again

and just as Europe’s economy hits its stride there are fresh warnings.

The IMF says a disruptive departure by Britain could result in “appreciably” lower growth for both sides in the debate.

The main uncertainty remains what kind of trade relationship Britain can set up

Although the IMF remains confident that a deal with a transition period will be struck.


Associated Links

  • European Union
  • Music industry
  • Currency
  • Withdrawal from the European Union
  • Economy of the European Union
  • Eurozone
  • Brexit
  • Euroscepticism in the United Kingdom
  • Euro
  • Ciara

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