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Dr.Doom : UK’s economy will be destroyed if Brexit “

Nouriel Roubini, the economist who famously predicted the 2008 stock market crash, has added his voice to the many leading economists warning of the dangers around a U.K. exit from the European Union.

Roubini, nicknamed “Dr Doom” after a series of gloomy forecasts, laid out his warnings for the U.K. in a series of tweets on Tuesday, ahead of the referendum Thursday. He argued that the country’s substantial current account and fiscal deficits “may risk a sharp currency fall and a sudden stop of capital” if a majority of voters opt to leave the EU.

The country’s current account deficit hit a record £32.7 billion ($48.1 billion) in the last quarter of 2016, according to the U.K.’s Office for National Statistics.

“Brexit would cause significant damage to the UK economy & to the employment & well being of Britons. The UK is much better off inside the EU”

Roubini joined a clamor of respected economists and financial wizards warning of the perils of a Brexit, as polls suggest a close finish in Thursday’s vote. George Soros, the legendary currency trader, warned of a potential “Black Friday” shock to asset markets if U.K. voters decide to leave the trading zone.


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