Italy’s Morando Expressed Predictions on Brexit

The Deputy Finance Minister of Italy, Enrico Morando has declared a pragmatic assessment regarding the Brexit process coupled with its impact on the world economy.

As Morando speaks on the sidelines during the Ambrosetti Finance Workshop held in Cernobbio, Italy, he said that a drastic scenario was ruled out in Britain. However, there were claims that when the exit is already complete risks will still exist in the British economy.

The 66-year old Italian politician further stated on Saturday that the EU exit will bring greater effect to the United Kingdom compared with the European Union.

He also added that the consequences of such catastrophic event cannot be predicted easily, expressing that those who envisioned these aftereffects did not consider both positive and negative aspects and should be done with a fair approach.

The economic stance of Britain became resilient enough after the referendum in June. The pound declined towards its lows which haven’t seen for 31 years, however economists specified that the sterling appeared as a pressure valve that provided an essential lift to the exporters during the economic stress.