The New York Times has an article (HERE) suggesting the fall in the pound's value this week to a record low marks the end of the party for Brexiteers.
“The world believes that the U.K. is going to be poorer in the future, and find it more expensive to trade,” said Paul Johnson, the director of the Institute for Fiscal Studies, an independent research institution in London. “Essentially, the world is betting against the pound.” And against the British economy.
Adam S. Posen, a former member of the rate-setting committee at the Bank of England, and now president of the Peterson Institute for International Economics in Washington said,
“Somehow, a whole combination of people were in denial up until now,”
“There were the people who thought Brexit would be reversed, there were the people who delusionally thought there would be a soft Brexit, and all the northern Europeans would be nice to them. And there were people who believed that this crew in charge of the British negotiations were somehow going to strike a good deal. All of the delusions have run out of material.”
Strange how sometimes it's good to see how others see us.
No comments:
Post a Comment