Should the EU Go Soft on U.K. as Brexit Looms?
The European Union should offer the U.K. some flexibility on migration to avoid a hard break with Europe’s economy that would hurt both sides, according to Clemens Fuest, president of the Ifo economic institute. Cutting Britain off from the EU’s internal market, including for the financial services industry that’s one of the backbones of its economy, would trigger economic fallout, the German economist told Bloomberg Television. EU negotiators should step back from making open migration a condition of participation in the single market, Fuest said. Canadian Imperial Bank of Commerce Head of FX Strategy Jeremy Stretch discusses with Bloomberg's Anna Edwards on "Countdown."