Christine Lagarde, the IMF’s managing director, said that while she welcomed the fact that Britain would not leave the EU without a deal on Friday, nothing had been resolved.
The decision gave more time for discussions between the political parties and for companies to prepare for all options, Lagarde said.
“On the other hand, it is obvious it is continued uncertainty. And it does not resolve, other than by postponing what would have been a terrible outcome.”
The IMF said earlier this week that leaving the EU without a deal risked pushing the UK into a two-year recession.
UK business leaders have warned the government against wasting the Brexit extension, sounding the alarm that another deadlock in six months’ time would inflict renewed damage on the UK economy.
Stephen Phipson, the chief executive of the manufacturing lobby group Make UK, said some smaller businesses “won’t survive” the delay because they had ploughed resources into planning for a spring Brexit.
Businesses lower down the manufacturing supply chain have been forced to borrow money to pay for stockpiling. The extra burden of financing their lending for another six months could push some companies under, he said. [...]
Full article on The Guardian
© The Guardian
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article