Warnings about global economic fallout if Britain votes to leave the European Union are reaching fever pitch a day out from the so-called Brexit referendum.
In an op-ed in the Guardian, billionaire currency trader George Soros said a "Leave" vote could severely damage British living standards and potentially trigger a major crash in the British pound.
Economists divided on Brexit
BlackRock managing director and global chief investment strategist Richard Turnill said if Britain does exit, he expected to see volatility and significant declines in the Sterling.
"We expect to see significant declines in domestic UK assets, particularly smaller, mid-cap equities, but actually as you've seen over the last few days, the volatility I think is going to extend to broader European assets and global assets. I think you'll see flows into safe havens in the event of an exit, back into treasuries, back into gold," Mr Turnill said.
But British economist Roger Bootle, the founder of Capital Economics disagreed, arguing the UK would not be necessarily worse off if it left the EU.
"It's not going to be a case of European politicians saying to their own industries and to us we can't trade, that would be illegal under WTO rules," Mr Bootle said.
"It's going to be a matter of the EU if worse comes to worse, treating us exactly as they treat all sorts of countries around the world, including the United States, India, China, Japan, etc."
http://www.abc.net.au/news/2016-06-22/warnings-about-global-economic-fall-out-of-brexit-reaches-feve...
My son, who lives in England and works in the finance sector in London, wants England to stay in the EU. I say they should leave. We've been sending each other terse emails.
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