Britain has a diversified economy
Brexit: The IMF warns and warns
When the British go to the polls on June 23rd, the financial world will hold its breath. The main sufferer of an exit from the EU (Brexit) would be Great Britain itself, warns the International Monetary Fund (IMF). Its experts consider "substantial economic and financial costs" to be likely. A new IMF analysis of the state of the United Kingdom suggests that in the worst case, economic strength could lose up to 5.6 percentage points in the long term compared to staying in the EU. For 2017, these scenarios predict a plunge into recession if the UK chooses Brexit.
IMF boss Christine Lagarde
In a flaming appeal, IMF boss Christine Lagarde once again emphasized the advantages of remaining in the European Union. Great Britain is part of European manufacturing chains, for example in the automotive and space industries, said Lagarde in Vienna. The British trade volume has increased through membership in the EU, both wages and productivity have increased. In addition, the EU has helped transform the UK into a dynamic and vibrant economy, said the Frenchwoman.
"Britain has benefited from the many contributions from talented and hardworking migrants from around the world, including the EU," argued Lagarde. "EU membership has made the UK a richer economy, but it has also made the UK a more diverse, exciting and creative country."
The fund's experts also made it clear that Britain would be the main economic loser of a Brexit. "The main macroeconomic impact would be the UK," said an IMF economist. Great Britain is embarking on the Brexit adventure despite the recent more favorable data on the labor market and in terms of growth as an economically troubled country.
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