WorldIf politicians and the media are to be believed, Britain faces a growing risk of a “hard Brexit,” a doomsday scenario in which the country leaves the European Union without a preferential trade deal. Economists and investors, by contrast, are quietly upbeat and expect a relatively softer Brexit. A majority of market forecasters polled by International Business Times expect Britain to secure a Brexit deal and there is even a growing belief that the United Kingdom could do a U-turn and remain in the European Union.It is not that economists are unfazed by the deadlock in the British political system, and most agree that any hard Brexit would be a disaster for the British economy. Still, in stark contrast to the catastrophic prophecies of the politicians and media pundits, many of the economists in the poll based their forecasts on the premise that the politicians would eventually come to their senses.“From a pure economics perspective, Brexit should not have been such a big deal,” says Dan Hamilton, director of economics at the CLU Center for Economic Research & Forecasting. “If there’s a big negative impact of Brexit I would argue it’s because of politics or the interference (from politicians).”Thirteen of the… Read full this story
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