Extreme Brexit could be worse than financial crisis for Britain: Bank of England
2018-11-29 10:11:55 source：The Straits Times
November 29, 2018
LONDON (REUTERS) - Britain risks suffering an even bigger hit to its economy than during the global financial crisis 10 years ago if it leaves the European Union in a worst-case Brexit scenario in four months' time, the Bank of England (BoE) said on Wednesday (Nov 28).
Hours after the government issued its own stark warning about a no-deal Brexit, the BoE said the economy could shrink by as much as 8 per cent in about a year.
The two reports could add to pressure on lawmakers to drop their opposition to the Brexit agreement that Prime Minister Theresa May struck with other EU leaders on Sunday (Nov 25), which is far from certain to be approved in Parliament on Dec 11.
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