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EU fallout could have major effect on T&T

CEO of the TTMA Ramesh Ramdeen

Amid predictions of a post-Brexit economic tsunami, the UK government is trying to limit the damage of the country’s pending withdrawal from the European Union, as leaders prepare for the first round of talks.

Meanwhile, opposition Labour Party leader Jeremy Corbyn is dealing with his own Brexit meltdown. On Monday he announced 10 new cabinet positions after a flurry of resignations over the weekend. The exodus came after he sacked a key minister accused of plotting a coup.

Vice-Chancellor of the University of the West Indies Sir Hilary Beckles has warned the region to brace for the impact of the United Kingdom’s break with the European Union (EU).

The British exit vote last Thursday has already caused ripples across the world, with the value of the pound falling and stock markets dipping among the immediate effects.

Sir Hilary says the region’s fragile economic recovery is now under threat and Britain’s exit should trigger immediate strategic regional reactions, even before Heads of Government meet in Guyana for their July 4 to 6 Summit.

CEO of the TTMA Ramesh Ramdeen