Risk Management
Published  6 MIN READ

Brexit: So Far, the Costs Are All to the UK

Brexit: So Far, the Costs Are All to the UK

by Erik F. Nielsen, Group Chief Economist and Head of CIB Research, UniCredit

The British population defied the advice of the vast majority of domestic and international political leaders, economic and financial institutions, the business elite and most of the media when they voted to leave the EU. 

The vote, which divided England (excluding London) and Wales against Scotland, Northern Ireland and London; old against young; and people with relatively little education against the ‘educated elite’, has already had three clearly negative effects on the UK.