Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Brexit is already blowing up and Trump will look like a fool for pimping it
Ratings agency Moody's said Britain's creditworthiness was now at greater risk after voting to leave the European Union, as the country would face substantial challenges to successfully negotiate its exit from the bloc.
Moody's assigned a negative outlook to its 'Aa1' rating for British government debt after a Thursday referendum showed that a clear majority of Britons wanted to leave the EU, prompting Prime Minister David Cameron to announce he would resign.
"During the several years in which the UK will have to renegotiate its trade relations with the EU, Moody's expects heightened uncertainty, diminished confidence and lower spending and investment to result in weaker growth," the agency said.
http://www.reuters.com/article/us-britain-eu-moody-s-idUSKCN0ZA3IJ
Moody's assigned a negative outlook to its 'Aa1' rating for British government debt after a Thursday referendum showed that a clear majority of Britons wanted to leave the EU, prompting Prime Minister David Cameron to announce he would resign.
"During the several years in which the UK will have to renegotiate its trade relations with the EU, Moody's expects heightened uncertainty, diminished confidence and lower spending and investment to result in weaker growth," the agency said.
http://www.reuters.com/article/us-britain-eu-moody-s-idUSKCN0ZA3IJ
In response to criticism by Vote Leave, which accuses economists of scare-mongering, Pissarides said that forecasting was difficult, and economists might disagree or get it wrong, but in this case they were overwhelmingly in favour of remaining.
He said it was absurd that out campaigners were trying to dismiss economists as irrelevant.
“Britain will not thrive outside the EU,” he added. “The biggest negative impact will be felt over the next five years, but it will persist through the lack of investment and the weaker bargaining position that Britain will have in future negotiations.”
http://www.theguardian.com/politics/2016/jun/19/eu-referendum-nobel-prize-winning-economists-warn-of-long-term-brexit-damage
He said it was absurd that out campaigners were trying to dismiss economists as irrelevant.
“Britain will not thrive outside the EU,” he added. “The biggest negative impact will be felt over the next five years, but it will persist through the lack of investment and the weaker bargaining position that Britain will have in future negotiations.”
http://www.theguardian.com/politics/2016/jun/19/eu-referendum-nobel-prize-winning-economists-warn-of-long-term-brexit-damage
11 replies
= new reply since forum marked as read
= new reply since forum marked as read
