The Bank of England is alarmed by a "no-deal Brexit"

This is the scenario of the worst, which is the most feared: a disordered exit of the European Union, without agreement and without transition period. And there is obviously something. In such a scenario, Britain's gross domestic product would fall by 8% as of next year, and the unemployment rate would rise to 7.5%.

This is the main lesson of a report published on Wednesday by the Bank of England, made at the request of British MPs. Predictions unveiled as Premier Theresa May fights for support to approve the Brexit deal.

A fall of the pound of a quarter

The central bank is also forecasting a steep drop in the pound sterling, which was losing a quarter of its value and an increase in inflation to 6.5%, against 2.4% currently.

Leaving the European Union in an orderly way, Great Britain would do a little better, but the economy would still be down 2% over the next 15 years, compared to an economic situation without Brexit.

Later, the economy would recover and growth would pick up again, but less significantly than before.

Banks are ready for the worst

Good news nevertheless in this very dark picture. All banks in the United Kingdom have successfully completed stress tests. In concrete terms, this means that they are ready to face an exit from the European Union without agreement.

Banks could continue to finance households and businesses in a context of collapsing house prices and rising unemployment.

Central bank governor Mark Carney warned that his central bank was ready for Brexit, for better or for worse. The worst would be an even bigger crisis than the one crossed by the country in 2008, during the global financial storm.

But Mark Carney warned Wednesday at a press conference: "Our job is not to hope for the best, but to prepare for the worst". That is said.