(24 Jun 2016) The chief economist for ING Belgium said on Friday the financial markets reacted to the British vote to leave the EU with a shock not seen since the financial crisis in 2009.
Peter Vanden Houtu predicts that the financial markets will remain volatile because there are many uncertainties about how the British will leave the EU.
Meanwhile, the Chief Executive of European Policy Centre said a British exit from the EU "is a disaster" for the union, "but even more so it's a disaster for the UK."
Dr Fabian Zuleeg, talking outside the European Commission, said financial markets will be among most affected by the British decision to leave the EU.
In the longer run, he said the UK will end up outside the single market "and that means there will be less investment and less growth in the UK for a number of years to come."
He also said the news of Britain leaving "certainly strengthens the populists, the eurosceptics, the anti-establishment voices which we have in most countries now".
However, he does not believe that the 'leave' vote will trigger a domino effect in other European countries.
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