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Economists warn about Brexit

Most economists warn that Britain's economy would be worse off if the country leaves the EU.

An overwhelming majority of economists warn that Britain's economy would be worse off if voters decide the country should leave the European Union.

According to the economists polled by Reuters all but one of 28 economists in the poll taken this week said the Britain would take a hit if the vote - which could take place by June - meant exiting the EU.

Supporters of Britain leaving the EU say companies would be less bound by red tape, the country would be able to strike its own free trade deals and its existing EU partners would not want to hurt bilateral trade.

Analysts at some of the world's biggest banks said an exit could shrink Britain's economy by as much as 2 percent over the next couple of years and could take as much as 10 percentage points off GDP over the next decade.

Britain has been among the fastest-growing rich economies in recent years. But economists worry that an exit from the EU could hurt its prospects if exporters face higher barriers, a weaker pound makes imports more expensive and uncertainty over the shape of a post-EU Britain curbs investment.

EU membership has long been a contentious topic in Britain. Eurosceptics, who believe the UK would be better off outside the political and economic union, seek the UK withdrawal from the EU. 

 

 

 


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