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9/27, 1:34 PM (Source: TeleTrader)
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No-deal Brexit could lead to 700,000 EU job losses - report

Failure to reach a post-Brexit trade deal with the United Kingdom could result in over 700,000 job losses in companies from the European Union exporting to the UK, the Financial Times reported on Sunday, citing a study by the Halle Institute for Economic Research it obtained.

One million people could be left without work if firms from outside the bloc are included in the research, the report said. Germany would lose 176,000 working positions, while France, Poland and Italy would be affected by 72,000 to 80,000 job losses. Over 90,000 workers in China could end up without employment in case a no-deal Brexit takes place.

The study, carried out under the assumption that Brussels and London would conduct trade according to World Trade Organization rules if no agreement is struck, is not yet publicly available as it is still being peer-reviewed, the media outlet noted.

Breaking the News / MS