Brexit: a Bad Economic Outcome for Europe, Says Burgess
A Brexit wouldn’t just weaken the pound -- it would jeopardize its status as a reserve currency used in world trade, according to S&P Global Ratings. Sterling lags only the dollar and euro in central banks’ holdings, a legacy of Britain’s large economy, its trusted legal system and use of the global lingua franca. But a vote to leave the European Union on June 23 may dethrone the pound and would even threaten the nation’s top AAA credit rating, says S&P. Columbia Threadneedle CIO EMEA Mark Burgess discusses the wider implications of a Brexit vote for Europe with "On the Move" host Guy Johnson.