Video will play in Play now Don't auto playNever auto play"What we're seeing is a populist revolt against the political elite," says Prasanna Gai, Professor of Macroeconomics at the University of Auckland. But if the leave vote wins it would be extremely bad for the UK economy. The UK faced a long and deep recession if voters decided to abandon Europe, he told The Economy Hub video show. It appeared to be a reaction against increasing globalisation and was now a bell-weather for these kind of populist uprisings, he said. Brexit would also have a big impact on Europe and that had the potential to spill over in to a wider global slow down, Gai said.

Source: New Zealand Herald June 23, 2016 01:54 UTC