Will Recession Come With a Brexit Vote?
Recession. Vote to leave the European Union and a yearlong one is in the offing, according to the U.K. Treasury. With Britain's referendum less than two weeks away, the outlook seems decidedly gloomy. Bank of England Governor Mark Carney has warned Brexit consequences could possibly include a “technical recession,” defined as two consecutive quarters of falling economic output. While the majority of economists say a vote to leave will spark a slowdown, the Treasury is in the minority predicting an outright recession. G Plus Economics Chief Economist Lena Komileva discusses with Bloomberg's Anna Edwards on "Countdown."
Most Recent Videos
U.K.'s May Calls for Two-Year Brexit Transition Period
12:18 - U.K. Prime Minister Theresa May speaks in Florence, Italy on the need for a period of implementation after the nation leaves the European Union. (Source: Bloomberg)