Top economists at Germany’s Ifo Institute have admitted that a “No Deal” Brexit — “Hard Brexit”, according to detractors, or “Clean Brexit”, according to proponents — would not leave the United Kingdom any worse off than the European Union, unless it was executed extremely poorly.
“In the case of a hard Brexit, would the UK really apply the high EU external tariffs and carry out elaborate physical checks at the borders?” asked Gabriel Felbermayr, director of the German think tank, in a report covered by the Telegraph newspaper.
“Such a strategy would be hardly rational for London and technically perhaps not feasible,” he suggested. Breitbart, Jack Montgomery.
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