A Brexit could hurt currency, trigger credit downgrades

A NEWLY independent UK would likely have reduced leverage to fashion trade deals for the crucial services sector and less clout to negotiate regulatory standards for unimpeded EU market access.

Both would be lengthy and painful processes, and we see the UK as economically worse off in the end.

The European Union (EU), for its part, would lose a major budget contributor, a leading voice for free markets and easy access to a world-class financial centre.

A Brexit could spur separatist calls and embolden populist parties across the continen…