Brexit vote may spark recession Mark Carney warns..consequences for UK would be “very, very bad” warns IMF

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http://www.bbc.com/news/business-36273448

The Bank of England has given its starkest warning yet that a UK vote to leave the EU could hit the economy.

Mark Carney, the Bank’s governor, warned that the risks of leaving “could possibly include a technical recession”.

Prime Minister David Cameron said the warning amounted to “a very clear message” of the dangers of Brexit.

Vote Leave campaigners have strongly criticised Mr Carney, with one calling for him to resign.

However, a spokesman for Mr Carney rejected the call, saying the Bank had “a duty” to make its judgements known.

The latest minutes from the Bank’s Monetary Policy Committee (MPC) said that a leave vote may cause both growth and sterling to fall and unemployment to rise.

Mr Carney said the Bank had not compiled formal forecasts about the possibility of a recession – defined as two consecutive quarters of negative growth – resulting from a Brexit vote.

Chancellor George Osborne said the UK now had a “clear and unequivocal warning” from the MPC as well as the Governor of the Bank of England about the risks of a Leave vote,

“The Bank is saying that it would face a trade-off between stabilising inflation on one hand and stabilising output and employment on the other,” he said.

https://www.rt.com/uk/342830-banks-donations-brexit-leave/

Prime Minister David Cameron’s bid to keep Britain in the EU is being funded by global banks to the tune of £1.5 million, in a fight which has been likened by ‘leave’ campaigners to that of David vs Goliath.

The official Britain Stronger in Europe (BSE) group, backed by Cameron, has received funds from banks including Goldman Sachs, JP Morgan, Morgan Stanley and Citibank.

The campaign has also taken major sums from wealthy businessmen, who previously insisted the UK would be “isolated” if it did not join the euro, the Daily Mail reports.

Figures on campaign donations also reveal that BSE got a £20,000 loan at a rate of just one percent from Lloyds.

https://www.rt.com/business/342936-lagarde-imf-brexit-uk/

IMF Chief Christine Lagarde has once again spoken against the UK leaving the European Union. She has predicted “a sharp” drop in equity and house prices, increased borrowing costs and a sudden stop of investment inflows into commercial real estate and finance.

“We have looked at all the scenarios. We have done our homework and we haven’t found anything positive to say about a Brexit vote,” she said at a press conference at the Treasury in London on Friday. According to the IMF, the impact would range from “pretty bad to very, very bad.”

Lagarde has said she isn’t taking sides in the referendum debate, and has called Brexit an international rather than domestic issue.

“We are not doing it out of politics, that is not the job of the IMF. We are doing it because there is a significant downside risk. It’s not just a domestic issue. It is an international issue. I don’t think in the last six months I have visited any country in the world where I have not been asked what will be the consequences,” said the IMF chief.

The IMF has predicted higher volatility, triggered by a “protracted period of heightened uncertainty.” The UK is also facing“technical recession” of economic output contracting for two consecutive months, warned Lagarde, backing a warning from the Bank of England.

Lagarde’s words have drawn criticism from Brexit proponents.

———-

now the banks are lining up to push the stay vote..if the banks are behind it then i am against it..

the usual players plus the IMF..even obama is pushing the stay vote..what are they afraid of?

We have looked at all the scenarios. We have done our homework and we haven’t found anything positive to say about a Brexit vote,” she said at a press conference at the Treasury in London on Friday. According to the IMF, the impact would range from “pretty bad to very, very bad.”

and this:

“The official Britain Stronger in Europe (BSE) group, backed by Cameron, has received funds from banks including Goldman Sachs, JP Morgan, Morgan Stanley and Citibank.”

401

~ by seeker401 on May 17, 2016.

3 Responses to “Brexit vote may spark recession Mark Carney warns..consequences for UK would be “very, very bad” warns IMF”

  1. http://www.bbc.com/news/uk-politics-eu-referendum-36299324

    ‘Business creates money not government.’

  2. Leaving would be good but cant see it happening due to ten toes prophecy
    of Daniel – ten supernations and Europe is one nation – no 2 in club of Rome plan .

    The elites will scare the ……….. out of the voters and use hackers on the voting sites if it looks close run .

  3. http://www.reuters.com/article/us-moves-goldman-sachs-barroso-idUSKCN0ZO1FT

    http://theportugalnews.com/news/barroso-gets-top-secret-society-post/35004

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