Brexit the ‘Tip of the Iceberg’ as Vote Risks EU’s Destruction

European leaders also warned of the dangers of Brussels’ continued intrusions into economic policymaking.

by Szu Ping Chan

Brexit is just the “tip of the iceberg” of popular resentment against the EU that could destroy the entire bloc, economists have warned.

Nouriel Roubini said the decision to leave the EU could trigger the “beginning of the disintegration” of the UK, eurozone and wider trading area.

Mr Roubini – dubbed “Dr Doom” for predicting the financial crisis in 2008 – said the vote for Brexit had created “a whole bunch of financial, economic, political and geopolitical uncertainties.”

Lou Jiwei, China’s finance minister, said the vote heralded the start of a period of uncertainty for the global economy that could last up to a decade.

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