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Wednesday, 29 June 2016

UK’s exit from EU a threat to the Caribbean

Vice-Chancellor of the University of the West Indies (UWI) Sir Hilary Beckles has warned the region to brace for the impact of the United Kingdom’s (UK) break with the European Union (EU), as he predicted that every aspect of life in the Caribbean will be negatively affected. The Brexit (British exit) vote last Thursday has already caused ripples across the world, with the value of the pound falling and stock markets dipping among the immediate effects. And Sir Hilary says the region’s fragile economic recovery is now under threat and Britain’s exit should trigger immediate strategic regional reactions, even before Heads of Government meet in Guyana for their July 4 to 6 Summit. “The predictable, highly individualistic action poses both a short-term as well as a long-term threat to the performance of CARICOM economies,” he said in a statement issued yesterday.

Source: caribbean360.com