WATCH: Brexit’s Damage to the British Economy
Adam Posen, president of the Peterson Institute for International Economics, says that the United Kingdom’s choice to close itself off from the European single market will damage Britain’s economy.
The UK is taking a position of wanting to be in and out and EU at the same time, but a break is inevitable, according to Posen. Among the problems he forecasts: negative supply shock. “Putting up barriers are bad for an economy,” says Posen.
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