Jovanov, Tamara and Davcev, Ljupco (2016) BREXIT - what happened. In: Euro-Asia Forum in Politics, Economics and Business (EAFPEB), 21-22 July 2016 , Belgrade, Serbia. (Unpublished)
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Abstract
Paul Krugman, one of the world's leading economists of today and columnist for The New York Times, said that "Brexit is a fantastic event in totally wrong way"
Citigroup believes Brexit will result in 4% lower UK's GDP in the next three years. German analysts, however, believe that there will be a strong disappointment for consumers and business confidence, which could lead to recession. Analysts at Goldman Sachs believe that the pound will fall, which will have an impact on inflation and monetary policy of the country.
The European Union seems going through the most difficult period of its existence. Despite the debt crisis, the influx of refugees from the Middle East and Africa, the EU is faced with another major and real danger that threatens to destroy a European dream of a common market.
Krugman thought about Brexit, "many people deserve criticism. From British Prime Minister David Cameron, who will be remembered as a man who risked to fall apart the European Union and the UK at the same time, to the current officials in Brussels. "
Krugman predicts that the economic consequences of Brexit would be bad, but not as much as expected. The political consequences will be much worse, but they were such as if Brexit did not occur and Britain remained the EU.
What to say? We should say that the European project to promote peace through strengthening political union and economic integration is in great crisis and threatens failure. European concept is in deep crisis!
| Item Type: | Conference or Workshop Item (Lecture) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Tamara Jovanov |
| Date Deposited: | 05 Sep 2016 14:02 |
| Last Modified: | 16 Aug 2018 06:52 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/16149 |
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