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What Brexit Means for...
What Brexit Means for the UK Economy
The UK referendum on whether to remain in or leave the European Union is upon us. Will Britain leave the EU? What will a Brexit do to the pound? Here we look at what Brexit means for the UK economy. The International Business Times looks at the UK economy in case of a Brexit.
The economy has become a vital issue for Remain. The EU is one of the worlds largest free-trade zones, and much campaigning has revolved around what may happen if the UK votes to leave. These claims have ranged from the price of family holidays rising to major job losses and a potential recession caused by the Brexit.
Those backing the Leave campaign have dismissed many of these arguments as fearmongering. Prominent Leave campaigners such as Boris Johnson and Nigel Farage claim that leaving the EU would mean that the UK could negotiate their own unique deals with countries in the EU and across the world. They also point to the economic failings of many EU countries such as Greece as proof that remaining a member of the union does not guarantee financial security.
The biggest economic factor of a Brexit would be leaving one of the world’s largest free trade zones and the economic consequences of that. If indeed a Brexit occurs and damages the UK economy what is the most recent thinking on what it will do to the GBP? Bloomberg reports that the Pound declines to a two month low as it appears that Brexit might occur.