Views: “Brexit: Penny wise, Pound Foolish!
The massively adverse fallout in global markets against the backdrop of Brexit is testament to the ‘Penny Wise, Pound Foolish’ nature of the move, says YES Bank chief executive officer Rana Kapoor.“Brexit threatens to alter the world economic order, with resultant decline in global Gross Domestic Product, volatility in currencies, rebalancing of trade ties and a possibility of the United Kingdom slipping into recession.
“It is imperative for global policy makers to take remedial measures to minimize damage.
“Even so, the silver lining is India emerging as the “must invest destination” among Emerging Markets for strategic and financial investors in the wake of global uncertainty,” said Kapoor. fii-news.com
