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entertainment8 hours ago
In the UK, where talks of Brexit have been gripping the country, the crisis is not in the economic front but more on the political arena, according to Mervyn Allister King, former governor of the Bank of England and member of the House of Lords.
"The UK is not heading towards economic chaos but political tragedy. Anything can happen - there will be a challenge for Prime Minister Theresa May before Christmas," he noted.
King, who also expressed his thoughts in a recent opinion piece published by Bloomberg, said Britain is not facing an economic crisis but confronted with a deep political crisis the UK Parliament has brought upon itself.
He underlined that preparations for Brexit should have started in 2016, immediately after the referendum. Instead, the government pretended that everything could be postponed and it has proven disastrous, according to King.
King added, however, that the UK will remain a European country and trade with other Euro nations will continue much as before.
He added that there will be radical change in terms of trade and the UK and the rest of Europe will experience slow economic growth.
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