UK may face a recession if Brexit is botched
London (CNN Business)A sharp decline in the value of the pound and plummeting bank stocks are sending a clear message: a chaotic Brexit will plunge the UK economy into recession.
Dramatic market reaction to the resignation of key UK government ministers underscores the steep price that Brits are likely to pay if the country crashes out of the European Union without a divorce deal.
The resignations mean that Prime Minister Theresa May faces an uphill battle to win parliamentary support for the Brexit deal she has negotiated with the European Union. The risk of a chaotic exit from the bloc has risen sharply as a result.
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