Prolonged uncertainty' of Brexit sent waves of financial volatility across Europe

Prolonged uncertainty' of Brexit sent waves of financial volatility across Europe

Briefly

"The political and economic chaos unleashed in Britain by the 2016 vote to leave the European Union was not limited to causing problems at home, but also sent financial shockwaves across Europe, new research has found. The trade barriers and labour shortages, which have contributed to the long-term damage to the UK economy and fall in per capita income since exiting the EU, have been accompanied by years of political turmoil, with six prime ministers taking office since the referendum was called a decade ago."

"But the impacts of the immediate post-Brexit vote chaos has also served to expose how tight-knit the financial ties across the developed world can be, and what happens when these bonds are tested. Researchers at the University of Surrey analysed more than two decades of stock market data from across the EU, and found that Brexit-related events significantly increased volatility spillovers between European markets."

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