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An anti-Brexit protester waves a flag in front of Parliament in London, UK, on October 9, 2018. REUTERS / Simon Dawson
LONDON (Reuters) – A Brexit without a deal would likely lead Britain to a recession that could last more than a year, the Standard and Poor 's rating agency said Tuesday.
While its basic argument was that London and Brussels would agree to a withdrawal agreement before the March 2019 deadline, the risk of lack of agreement has now become sufficiently important to be caught. account in the assessment of the solvency of Britain, said S & P.
"In the scenario of a Brexit without agreement, our calculations indicate that the UK would experience a moderate recession for four to five quarters, with GDP shrinking by 1.2% in 2019 and 1.5% in 2020 "said S & P in a statement.
Reporting by Andy Bruce, edited by David Milliken
