Liberation.fr (France):
Sorti de l?UE: l?orchestre cacophonique de Londres/Exit of the EU: the cacophony orchestra of London
8 August 2017
Theresa May on vacation, the ministers of soft and hard Brexit clash in the most perfect disorder. Economists, on the other hand, predict a decline in growth.
The government's hesitations have an impact on the economy. Time is of the essence, as uncertainty hangs over investment, warns Mark Carney, Governor of the Bank of England. Pessimistic, the institution has lowered its growth forecasts to 1.7% for 2017 and 1.6% for 2018. According to it, growth is penalized by the decline in the purchasing power of households. "The depreciation of the pound [which is worth 1.1 euro against 1.3 before the referendum] has led to an increase in inflation, which has reduced wage growth. Consumption has not yet declined, but households are saving less, "says Thomas Sampson, a professor of economics at the London School of Economics.
Related links
Thomas Sampson CEP publications webpage: http://cep.lse.ac.uk/_new/publications/author.asp?author=sampson