Friday, June 24, 2016

Brexit could bring down the ruble – Moskovsky Komsomolets

As the UK referendum on secession from the EU will affect the Russian economy

Today, at 15:09, views: 704

After as the results of the referendum on the UK exiting the country were declared the EU international oil prices plunged more than 6%. I take off the dollar, but the euro and the pound hit a fever. Now on the stock exchange, “green” is worth 65.5 rubles. As the decision of the British impact on the Russian and global economy, “MK” asked the experts.

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Photo: Gennady Cherkasov

EXPERTS “MK»:

Nikita Maslennikov, Advisor to the Institute of Contemporary Development:

«We must understand that” evrozhizn “for the UK does not end tomorrow. Another three months the government will carry out their duties. Negotiations on withdrawal from the EU is likely to begin to have the new British Prime Minister, who will take the post after the departure of David Cameron. The Lisbon Treaty on the procedure is given for two years. That is the real economic consequences for Europe, and Russia in particular, can be seen until the end of this period. What they will be is difficult to say.

The short-term prospects of Brexit in this case are more obvious. Who started the chaos in world markets. Investors actively exempt from risk assets. British pound against the background of recent news has fallen by 12% against the major currencies.

For the Russian economy the main negative effects on the outcome of the popular vote in the UK can be a stock market crash and the fall of the ruble following the decline in commodity prices. Brexit already provoked a drop in oil prices of Brent crude by 6%, below $ 50 per barrel. But I think that within a week or two, when all settles “dust” on the prospects of Britain from the European Union, the situation begins to stabilize. Representatives of the EU and the UK are now made high, to take the edge off the first emotional reaction. On Friday already scheduled to meet German Chancellor Angela Merkel with his ministers, after which, obviously, will be made reassuring for Members of the European Union statement. In addition, the Bank of England announced its readiness to provide UK banks an additional 250 billion pounds (nearly $ 350 billion), if necessary. While in the medium term against the backdrop of uncertainty about future developments in the European Union conditions for weakening of the ruble is still preserved. We this case, Russia’s economy is unlikely to keep within the inflation forecast at the level of 6-7% »

Valery Polkhovsky, senior analyst at GK FOREX CLUB:.

“The current situation in financial markets is” overheated “is more out of fear and anxiety than the real situation. Yes, the results of the referendum and the British desire to leave the eurozone for many a surprise. But this solution is not a one-stage in its execution. UK Parliament in the near future to launch mechanisms for the disposal of the European Union, but the actual output can occur after one or two years, and release dates can be transferred, and repeatedly. Speaking of excessive emotionality institutional investors, we have, in particular, mean a serious drop in oil prices. Interstate contracts on the outcome of the referendum had not lost its power and importance. A decline in energy prices due to nothing more than a departure from the increased risks and the transfer of capital to the US dollar and gold. Current negative dynamics may take some time until the troubles did not subside and markets stabilize. We expect a correction for Brent crude oil to $ 47 per barrel with a possible touch at “45″. However, achieving these quantities of oil are likely to revert to the upward trend – this will contribute to macro-economic indicators and the overall stabilization of the financial markets after the “English shock»

Watch the video on the theme “Escape from Europe.: Britons voted in favor of withdrawal from the European Union “

The subjects of the United Kingdom of Great Britain and Northern Ireland decided to withdraw from the European Union in a referendum held on the initiative of the British Prime Minister David Cameron. This political event caused a great resonance in the world. Right-wing parties in a number of EU countries have already announced their intention to hold a series of similar events at home.

Video published on the site youtube.com The Latest TV

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