Brexit will be a ‘hard land­ing’ SHOULD THEY STAY OR SHOULD THEY GO?

Finweek English Edition - - THE WEEK -

Re­cent polls in­di­cated that those cam­paign­ing for Bri­tain to leave the EU, or a Brexit, were now in the lead, re­ported Reuters. Bri­tain will vote on leav­ing the EU on 23 June. The Bank of Eng­land pre­vi­ously said that if a Brexit vote was suc­cess­ful, it could re­sult in a re­ces­sion in that coun­try.

Ac­cord­ing to Reuters, a tele­phone poll by polling firm ICM in­di­cated that 45% of re­spon­dents now favoured leav­ing the EU, while 42% said they’d pre­fer to stay in the bloc, with the rest un­de­cided. In an on­line poll by the same com­pany, 47% favoured leav­ing the EU, with 44% say­ing they would vote to stay. A week ear­lier, the same poll came out at 45% for ei­ther op­tion.

After the re­sults of the poll were pub­lished on 31 May, the FTSE 100 in­dex was down 0.6%, fol­low­ing three months of gains, and the pound was down 1.1% against the US dol­lar, to an eight-day low, re­ported Reuters.

On 1 June, the Or­gan­i­sa­tion for Eco­nomic Co-op­er­a­tion and Devel­op­ment (OECD), warned that a Brexit could pose a threat to the global econ­omy as big as a “hard land­ing” in China, re­ported the­guardian.com.

In a state­ment, the OECD said that by 2030, post-Brexit UK’s GDP would be 5% lower than if it re­mained in the EU.

For­mer mayor of Lon­don, Boris John­son, a sup­porter of the Vote Leave cam­paign, dur­ing a rally held in North­ern Eng­land in April.

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