Aerospace Trade Group Says No-Deal Brexit a Full Blown Economic Crisis

The risk of a no-deal Brexit is turning into a “full-blown economic crisis”, the aerospace trade body has warned.
ADS Group said it was now able to track “the very real economic damage being caused” by the continuing uncertainty over the UK’s exit from the EU.

Its warning comes as insurance trade body, the ABI, said a no-deal Brexit “would be a be an unforgivable act of economic and social self-harm”.

The UK is due to leave the EU on 29 March, but no deal is yet in place.

Prime Minister Theresa May is facing growing pressure to delay Brexit if no deal is agreed by then.

ADS, the aerospace and defence trade group, represents some of the largest companies operating in the UK, including Airbus, Boeing and BAE Systems.

Chief executive Paul Everitt said its members needed a “firm transition period and negotiations on the UK’s future relationship with the European Union commenced at the earliest opportunity”.

His comments come amid growing anger among many business groups over the continuing uncertainty.

via BBC

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Alfonso Esparza

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.
Alfonso Esparza