UK Chancellor Says Economy Can Overcome Challenges

June 27, 2016 Share Print 0

The U.K. is ready to face the challenges thrown up by the vote to leave the European Union (EU), U.K. Chancellor George Osborne told a press conference on Monday, although he added that it would not be “plain sailing” in the next few days and months.
“Our economy is about as strong as it could be to confront the challenge our country now faces,” George Osborne told a news conference on Monday, making his first public comments since the referendum result which saw 52 percent of voters elect to leave the EU.

Osborne said the result was not the “not the outcome that I wanted or that I threw everything into campaigning for” but that the will of the people had to be respected.

He said that the British economy was fundamentally strong although it was “inevitable” that it would have to “adjust to the new situation that we find ourselves in.”

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.