Brexit Aftermath: Goldman Sachs Predicts U.K. Will Enter A ‘Mild Recession’ In 2017

Union flag banners hang across a street near the Houses of Parliament in central London on June 25, 2016, after the announcement that the UK had voted on June 23 to leave the European Union in a national referendum. / AFP / Odd ANDERSEN (Photo credit should read ODD ANDERSEN/AFP/Getty Images)The Brexit aftershocks have been as swift as they’ve been strong. In the days since the citizens of the United Kingdom voted to leave the European Union, a petition for a re-vote has garnered 3.7 million signatures, Scotland’s first minister has said that Scottish parliament could try to block the U.K’s departure, and global stocks – particularly British banking stocks — are getting pounded. And on top of the chaos comes this pessimistic prediction from Goldman Sachs: the Brexit could cause the U.K. economy to dip into a mild recession in 2017……...read more

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