Economic damages of a Brexit underestimated

"The economic damage for the UK could be significantly higher than many people assume," says IW economist Jürgen Matthes. The IW Köln argues that the pertinent forward-looking theoretical models are unable to capture many important advantages of economic integration between the UK and the EU. Overall a net economic damage in the order of 10 percent of economic output and more cannot be precluded in a more pessimistic scenario in the longer run..

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