Globalists Panicking at Brexit Prompting more Secessionist Movements

http://real-agenda.com/feed

Fitch notes that the banking sectors in Ireland, Malta, Luxembourg, Spain, France and Germany have important links with the UK. The Credit rating agency Fitch has warned that the departure of the United Kingdom from the European Union (EU) could precipitate the departure of Scotland from the UK, which in turn could intensify “secessionist pressures” in other parts of the EU, such as Catalonia in Spain. “The ‘Brexit’ would create a precedent for countries emerging from the EU” says Fitch, who believes that this could push for an “antiEU” movement and the birth of other populist political parties,” warned Fitch. In addition, the credit agency also warned about popular pressure making it impossible for leaders to make difficult decisions or to approve unpopular measures that would benefit large corporations in the long run. In a report released Monday, Fitch warns that the ‘Brexit’ bill would negatively affect the economies of other European countries and raise political risks in Europe. Strangely enough, Fitch says that if the UK left the EU, the agency does not plan to immediately downgrade the rating of the sovereign debt of other European countries. In its statement, Fitch stresses that, in the medium term, is more likely to take negative rating actions if the economic impact of ‘Brexit’ was serious or if “significant political risks” materialized. In this regard, Fitch notes that the economic impact of ‘Brexit’ would be lower for the EU than for the United Kingdom, but would remain “palpable” for European exports to the UK as they would be reduced, affecting mainly Ireland, Malta , Belgium, the Netherlands, Cyprus and Luxembourg, whose exports of goods and services to UK represent at least 8% of GDP. The agency believes that although some European countries could receive foreign investments that would otherwise be directed to the United Kingdom, other countries, such as Luxembourg, Malta, Belgium and Germany, with a large stock of foreign investments and financial assets in the UK, would reduce the euro value of its assets if there were not a permanent depreciation of sterling. Fitch notes that the banking sectors in Ireland, Malta, Luxembourg, Spain, France and Germany have important links with the UK. The agency also warned that the ‘Brexit’ would cut the UK contribution to the EU budget, which would imply greater input from other countries or cutting spending in the Union. Fitch says that with the publication of this report, is not an effort to affect the vote in the referendum that will take place on June 23, but only seeks to provide the financial market with indications on the possible effects of the ‘Brexit’ in its ratings on the sovereign debts of European countries.

The post Globalists Panicking at Brexit Prompting more Secessionist Movements appeared first on The Real Agenda News.

Read the rest below at the source link