Despite predictions of doom and gloom from many pundits - research firms think that at least when it comes to financial markets and the economy, Brexit is NOT the apocalypse.
Following the outcome of the Brexit referendum, significant re-pricing of financial assets took place in an orderly manner and didn’t lead to a seizing up of markets and interruption of the flow of credit, notes Goldman Sachs. Huw Pill and colleagues point out in their July 29 research piece titled “Brexit fallout – Economic and political challenges for continental Europe” that the U.K. will not be allowed to cherry-pick among the privileges of EU membership without accepting the responsibilities and costs entailed.
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