Tags: APFN | EU | Brexit | Economic Impact

Brexit Escalation Raises Alarm for Ailing European Economy

Brexit Escalation Raises Alarm for Ailing European Economy

Thursday, 29 August 2019 08:38 AM

LONDON (AP) — Europe's Brexit drama is hurtling toward a new climax, threatening to sow chaos for businesses just as a large part of the continent is sliding toward recession.

A disorderly divorce is a worst-case scenario that both sides have been trying to avoid since the Brexit vote three years ago - and many experts now see it as a likely outcome.

Economists on Thursday described a nightmarish setting for companies: new tariffs overnight on trade between Britain and the other 27 EU countries, border checks for people and commerce, the sudden loss of business licenses, and countless other regulatory problems.

This all would play out at a time when the European economy is already taking a mighty hit from uncertainty over the U.S.-China trade war, with powerhouse Germany halfway into recession.

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Europe's Brexit drama is hurtling toward a new climax, threatening to sow chaos for businesses just as a large part of the continent is sliding toward recession.A disorderly divorce is a worst-case scenario that both sides have been trying to avoid since the Brexit vote...
APFN,EU,Brexit,Economic Impact
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2019-38-29
Thursday, 29 August 2019 08:38 AM
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