Could ‘Brexit’ Panic Markets into a Recession?
The biggest pound bear expects the currency to lose 17 percent this year. And that’s if Britain remains part of the European Union. Bloomberg’s sterling survey predict declines of about 8 percent to levels last seen in 1985, based on an assumption citizens will vote to remain in the EU in the forthcoming referendum. Berenberg Chief Economist Holger Schmieding – who predicts a 35% risk of Britain leaving the EU - discusses with Bloomberg’s Manus Cranny and Anna Edwards on “Countdown.”