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Crisis Over Brexit Is An Economic Disaster Says Noble Prize Winner

Noble Prize achieving economist commented that the recent intense political scenario in Britain has led the nation to the doorstep of a severe economic crisis. Prime Minister of Britain, Boris Johnson has huge pressure on him to provide Brexit soon. Only 55 days are left for the fifth biggest economy of the world i.e. Britain to take a forever leave from the European Union. It is till date a huge debatable issue in U.K since it has been three years that finally Brexit has received small but prominent majority who voted for the proposal.

While October 31, 2019 has been decided to be the official day for Brexit, there is a lot going on in U.K. The entire nation is seeking options. It also has the consideration of a snap election for supporting the no-deal Brexit and perhaps even forgetting the thought of Brexit in its entirety. Professor of Economics from London School of Economics, Christopher Pissarides commented on the scenario on September 6, 2019, at Ambrosetti Forum in Italy. He said that everything that is currently occurring in Britain is extremely harmful from the perception of economics. Pissarides also said that the country is in a state of mayhem and the citizens do not even have the least idea on who is going to be their next Prime Minister and that is a vital decision which would also affect the final decision on Brexit.

A group has been formed consisting of opposition party members and certain rival legislators who belong to Conservative Party. They have enforced influence on House of Commons in Britain and they might force Johnson to look for a loophole so that Brexit could be postponed for another three months. However, Johnson has constantly said that he would not be delaying Brexit under any circumstances and would rather be happy to be “dead in a ditch” that delays the deadline.

Diane Sorensen
Content Writer & Editor At Industry News Works

After studying the Astronomical Sciences, Diane continued to write about space and the universe. Because of her passion and curiosity about topics related to science and astronomy, as well as his understanding of scientific terminology, she is responsible for the coverage of the science section. She is very enthusiastic in studying missions, launches, and discoveries of the space. Her knowledge about the Space domain is of great help to others too.

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