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Opinion | What to Expect When You’re Expecting Brexit
Keywords: Krugman, Brexit, No Deal Brexit,
Paul Krugman says in the long run Brexit is not catastrophic for Britain with a loss of 2-4% of GDP and affecting incomes. He compares it to Canada and the U.S. before the North American trade agreement, Canada's economy still functioned decently. The problem is more in the short run as no border infrastructure is in place and this is where a bigger hit is feared in the disruption of the flow of goods.
Krugman also cautions people in the European Union who do not see the impact on the EU even though it is relatively smaller than the larger impact on Britain.
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