"No-deal Brexit may erode EU economy of £100bn"

Jan 16, 2018, 6:43 AM EST
(Source: muffinn/flickr)
(Source: muffinn/flickr)

A recent research by a U.K.-based think-tank, Oxford Economics, estimates that a no-deal Brexit would result in a depleted output costing nearly £100bn to the remaining 27 nations in the trading bloc.

In the absence of a new trade deal, the U.K. will remain “the biggest loser” taking an economic blow of £125bn by 2020, reports The Guardian. The extensive report stands out for its focus on the implications for both the parties involved in Brexit negotiations.

Contrary to this analysis, Patrick Minford, a professor of economics at Cardiff University, claims that a no-deal situation would benefit Britain by shoring up its economy by £640bn, writes The Telegraph