With the collapse of financial markets, is it the end of the EU
Get ready for the BIG slide in UK economy!"
One thing is for sure: it will take some time for the British
economy to recover as it slows down by an estimated three per
Ads it is, the economy is limping after the 2008 financial
crisis and now this!
Trade agreements with European countries will have to be
worked out all over again.
Real estate values in London have tumbled with the pound.
Capital and jobs now move away from London as foreign
companies can no longer cover Europe from London.
Brexit result has hit every economy, some more than others.
How has India been affected?
The stock market took a tumble and the currency weakened
initially but it will recover as India has a strong economy.
Despite the drought for the last two years, India has the
fastest growing economy in the world today, healthy foreign
exchange reserves and reasonable inflation.
So after the initial fall, the economy will probably recover
in a couple of years as it did after 2008.
Yes, Indian experts of goods and services will be affected.
"We are well prepared to deal with short and medium term
consequences of Brexit," said Finance Minister Arun Jaitely,"
Our macroeconomic fundamentals are sound with a very comfortable
external position, a rock solid commitment to fiscal discipline
and a declining inflation.’
We have three lines of defence, said the Reserve Bank
Governor, Raghuram Rajan:
"The first is good fundamentals.
"The second is the fact that we have limited short-term