The UK paid the price for leaving the EU

The UK paid the price for leaving the EU

FINANCE

2020-07-23 12:48:31

Investors turned away from the UK after leaving the European Union. Amid the uncertainty over the future of the United Kingdom after Brexit, traders aren't in a hurry to put money into this country and are making a bet at the Euro.


The European foreign money is gradually strengthening, with the STOXX Europe 600 composite index up $ 3.5 trillion given that mid-March. Investment in Euro zone shares extended by way of nine percentage points, outperforming competition around the world.


At the identical time, the British pound is weakening, and shares inside the English inventory index FTSE one hundred fell with the aid of 17% in 2020.


Bank of America in a June record referred to as the United Kingdom an unloved region for funding, and in comparison the British pound to the forex of emerging markets because of the latest fluctuations.


Amid the coronavirus pandemic, UK residents are experiencing a sharp drop in income. The Bank of England forecasts that the country's GDP might be decreased by means of 14% via the give up of 2020.


As suggested through "Rambler", the United Kingdom left the European Union on January 31 at 23.00 (February 1 at 02.00 Moscow). Until the cease of 2020, there is a transition duration between the United Kingdom and the EU and negotiations are underway on similarly relations. In July, the next spherical of negotiations became terminated upfront, because the parties could not come to a settlement on some of the issues.

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