A major European think-tank has joined the pessimistic voices commenting on the economic ramifications of the Brexit vote.
As part of its World Economic Survey (WES), the Munich-based Ifo Center for Economic Studies consulted 762 experts from 112 countries throughout July 2016, and concluded: “Britain itself stands to suffer the most from the Brexit in economic terms, although other European Union countries – and especially Ireland – will also be negatively impacted.”
According to the experts, the UK’s decision to leave the EU is expected to have a ‘dampening effect’ on the economies of all EU member states in the medium-term (three to five years) – and the outlook for Ireland is particularly downbeat, with the Brexit effect expected to be ‘strongly negative.’
In contrast, Brexit is expected to have hardly any impact on North America, India, Brazil, Australia, the Middle East, the CIS states and various African countries. Elsewhere though, the survey predicts at least ‘slightly negative’ medium-term post-Brexit economic effects in virtually every other country worldwide.
© 2016 - Checkout Magazine by Ingmar Kiang