ROUBINI: A Brexit could tip Britain into a recession

New York University Economics Professor Nouriel Roubini has warned that Britain could face a recession and job losses if it votes to leave the European Union in Thursday’s referendum.

Roubini was famously one of the few people to predict the 2007-8 US housing crash and earned the nickname “Dr. Doom” for his bearish predictions.

Roubini made his Brexit predictions in a series of tweets early Tuesday morning London time. Here they are:

Roubini also linked to a Guardian article by famous speculator George Soros, warning that a Brexit would leave Brits poorer as the pound dives.

The Bank of England, the Treasury, the International Monetary Fund, and the OECD among others have all issued similar warnings, saying a Brexit could tip the UK into a recession, dent growth, and hit stock and currency markets.

Critics have dismissed many of these predictions as scaremongering by vested interests. But Roubini appears to have no dog in the fight, so to speak, as an independent, US-based professor. His predictions may carry more weight although his “Dr. Doom” reputation as a permanent pessimist may undermine him.

The UK appears to be leaning towards remaining in the EU with just days to go before the vote on June 23. “Remain” has a 7-point lead over the rival “Leave” camp ahead of Thursday’s referendum, according to a poll for the Telegraph.

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