A predictable exit from the European Union would be better for the U.K. economy than a “crash situation”, the IMF’s Christine Lagarde told CNBC.
London and Brussels are kicking off negotiations to define how the U.K. will leave the bloc next week and uncertainty is the dominant factor. It is not yet clear whether the U.K. will seek to keep some access to the EU’s single market or its customs union or if both will manage to draft a new trade deal, among other big question marks.
Asked to explain the difference between a soft and hard Brexit, Lagarde said: “It’s the big difference between the unpredictability the uncertainty and that’s the crash situation you described and a predictable transition towards a new status.”
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