Europe's Brexit drama is hurtling toward a new climax at the wrong time for the region's economy, threatening chaos for businesses just as a large part of the continent is sliding toward recession.
Europe's Brexit drama is hurtling toward a new climax at the wrong time for the region's economy, threatening to sow chaos for businesses just as a large part of the continent is sliding toward recession.
"Germany could have taken the U.K.'s departure from the EU in its stride a couple years ago but it will be hit quite badly if a no-deal Brexit occurs in two months' time," says Andrew Kenningham, chief European economist at Capital Economics in London. Brexit supporters note that Britain's departure has been in the making for a long time and companies around Europe have had time to prepare. Finally leaving, they say, could in fact remove the uncertainty of how and when Brexit will happen.
"However, suppose another , perhaps in another country, fails to prepare, your part of the value chain still grinds to a halt, and your customer still stops ordering. What do you do?" said Driffield.
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