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Wednesday, June 01, 2016

OECD Sounds Brexit Warning

The OECD has slashed its forecast for UK growth this year to 1.7%, down from an estimate of 2.1% three months ago.

The OECD also warned that a Brexit vote will have a negative impact on the global economy, likening it to a hard landing by China.

The alleged negative economic impact of a Brexit indicates that the OECD believes that Britain plays a major, and indeed vital, role in the global economy. Given Britain's economic stature, I am surprise that the OECD gives Britain such a downbeat assessment for making its own way in the world outwith the EU.

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