Quite likely Brexit would lead to changes not only in Britain’s relationship with Europe but also within Europe itself. First, unlike almost all other economic policy choices, Brexit is irreversible. My judgements are, I believe, widely, though not universally, shared by both progressive and conservative global financial and economic analysts. Second, markets are likely to suffer extraordinary volatility in the wake of Brexit. In the current context, Brexit would unsettle the global economy and possibly tip it into recession.

Source: Washington Post June 21, 2016 09:56 UTC