Six Reasons to Be Wary of Brexit Optimism
The U.K. will have a hard time beating the deal it has with Europe.
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Many of the prominent Conservative Party politicians who led the “leave” campaign in Britain’s referendum on the European Union did so with good intentions. They argued that leaving the EU would allow Britain to escape growth-shackling European policies, freeing markets both internally and externally.
It is on this basis that “Economists for Brexit” predicted a Brexit boost of up to 4 percent of U.K. gross domestic product. It’s a comforting thought for those of us who would like to see a positive outcome to Britain’s withdrawal from Europe. But there are six good reasons to be skeptical of this kind of free-market boast from Brexiters.