Citigroup's Buiter: Hard Brexit Is Most Likely Outcome

The video discusses the potential economic downturn in the UK due to Brexit, highlighting the revised GDP growth and the likelihood of a hard Brexit. It examines the impact on the City of London, suggesting it may be less affected than other sectors. The UK's current account deficit is analyzed, with a focus on investment and savings. The discussion also covers the potential depreciation of the pound sterling under different Brexit scenarios. Finally, the uncertainty surrounding Brexit's true meaning and its political implications are explored.

What is the most likely outcome for the UK according to the speaker?

• A new trade deal with the EU

• No Brexit at all

• A hard Brexit with significant loss of market access

• A soft Brexit with minimal changes

How might the City of London be affected by Brexit?

• It will be severely impacted and lose its status

• It will remain largely unaffected compared to other sectors

• It will become the new financial hub of Europe

• It will completely collapse

What is one of the main concerns regarding the UK's current account deficit?

• It indicates a strong economy

• It reflects weak investment and savings

• It is not related to Brexit

• It shows a surplus in trade

What is the expected impact of Brexit on the pound sterling?

• It will remain constant

• It will become the strongest currency in Europe

• It will appreciate significantly

• It will depreciate as part of financial adjustment

What does the phrase 'Brexit means Brexit' imply according to the speaker?

• It has a clear and well-defined meaning

• It is completely meaningless

• It means the UK will remain in the EU

• It signifies a new trade agreement with the EU

What is the potential impact of a 'rock hard' Brexit on the pound sterling?

• It will cause the pound to become the global reserve currency

• It will have no impact

• It could temporarily overshoot to a lower level

• It will stabilize at a high level

What is the speaker's view on the UK's ability to invoke Article 50?

• It is certain and straightforward

• It is highly unlikely to happen

• It is possible but not likely

• It will definitely not happen