Sunday 26 February 2017

Pound could plunge 'up to 30pc' in Brexit

John Mulligan

John Mulligan

Such a plunge would have a major negative impact on exports from Ireland to the UK.
Such a plunge would have a major negative impact on exports from Ireland to the UK.

Sterling and equities could plummet by between 20pc and 30pc if the UK votes to leave the European Union, a leading research analyst has predicted.

Such a plunge would have a major negative impact on exports from Ireland to the UK.

Ian Harnett, the co-founder and chief investment strategist at UK-based Absolute Strategy Research also said that Sterling could fall to parity with the dollar if voters decide at next week's referendum to ditch the EU.

In an interview yesterday, British prime minister David Cameron warned that the EU would not give the UK a better trade deal than it has now if a Brexit happens.

He insisted a Remain vote would increase UK authority within the EU, and said a ­Remain vote could herald a "wall of investment".

Irish Independent

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