UK: the last frontier?
By FT reporters
May 18 2012
Britain has already been affected by the eurozone crisis. But what would happen to the non-eurozone member were Greece to leave the single currency?
EconomyThere is no doubt the impact would be bad – at least in the short run – even if the longer-run effect of break-up is less clear cut, writes Chris Giles. For the UK, the short-run hits would probably include lower exports to Greece and other eurozone countries, weaker asset prices, a rise in sterling compared with the current eurozone average, a direct hit to financial sector output, a new credit crunch and a drop in confidence.
Capital Economics has dared estimate the “total possible impact” of these events would knock 3.5 per cent from UK ...
Get If Greece goes… now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
