Fears are growing internationally that a no-deal Brexit poses a threat to the stability of the global economy, the head of Britain’s leading business body has warned.
Carolyn Fairbairn, director-general of the CBI, said the failure to sort out Britain’s departure from the European Union was damaging Britain’s brand abroad and had joined a list of systemic risks to the world economy.
Speaking at the World Economic Forum in Davos, Fairbairn said there was mounting concern at the potential for a no-deal Brexit to cause damage well beyond the UK. The CBI held a private breakfast for UK business leaders in Davos attended by the head of the International Monetary Fund, Christine Lagarde. The UK chancellor, Philip Hammond, will address a CBI lunch on Thursday.
Fairbairn told the Guardian: “At my meetings at Davos, there is a recognition that the causes of vulnerability of the global economy now include Brexit.” » | Larry Elliott and Graeme Weardenin Davos | Thursday, January 24, 2019
