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Will no deal Brexit cause a recession? Most probably yes

The politics around the exit process are uncertain but the economics is clearer 

By Vicky Pryce  

Bank of England Governor Mark Carney. Photo: Victoria Jones/PA Wire/PA Images

The chances of a complete no deal Brexit were never thought to be very high, but talk of it as a serious possibility has increased considerably. That is since the disappointing Salzburg meeting where Theresa May’s Chequers plan was rejected. Further, May does not appear to have a majority in the Commons for her Brexit vision. What would be the economic consequence of a no deal?

The EU is generally known for managing to…

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