No hard Brexit winners
A no-deal Brexit could see GDP could slide by up to 0.5% across the EU. But the UK, as well as Ireland, would fare much worse with declines of more than 2% of GDP, warns the International Monetary Fund.
However, the IMF says a soft Brexit scenario, with the UK doing a Norway and becoming a member of the European Economic Area, would lead to “negligible” GDP losses.
The way things are headed, the organisation sees no Brexit winners at all.
“We are very concerned,” says Mahmood Pradhan, deputy director for the IMF’s European department. “It’s quite late in the process and we don’t see any clarity yet on the future relationship and we’re getting near some important deadlines.”