Home Politics EU No-deal BREXIT Sounds Alarm for Ailing European Economy

No-deal BREXIT Sounds Alarm for Ailing European Economy

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A pro-remain protester holds up an EU flag with one of the stars symbolically cut out in front of the Houses of Parliament shortly after British Prime Minister Theresa May announced to the House of Commons that Article 50 had been triggered in London on March 29, 2017. - Prime Minister Theresa May today said there could be "no turning back" and called for national unity, after notifying the EU of Britain's intention to end its 44-year membership of the bloc. (Photo by OLI SCARFF / AFP) (Photo credit should read OLI SCARFF/AFP/Getty Images)

Europe’s BREXIT drama is fast moving to a new climax, threatening to sow chaos for businesses just as a large part of the European continent is headed to recession.

A disorderly exit is a worst-case scenario that both sides have been trying to avoid since the BREXIT vote 3 years ago, and many experts now see it as the likely outcome.

Economists Thursday described a nightmarish setting for companies: new tariffs overnight on trade between Britain and the other 27 EU countries, border checks for people and commerce, the sudden loss of business licenses, and countless other regulatory problems.

This all would play out at a time when the European economy is already taking a mighty hit from uncertainty over the US-China trade dispute, with powerhouse Germany fast sliding into recession.

Stay tuned…

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