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Disrupted US Relations a bigger risk to Europe’s Economy than Brexit: OECD

Disrupted US Relations a bigger risk  to Europe’s Economy than Brexit: OECD
By Stuart William Oates

Angel Gurría, Secretary-General of the OECD says the biggest risk to Europe’s economic recovery is the Bloc’s tense relationship with its biggest client, the United States. He says Brexit in his view is more disruptive than a risk to the EU economy as he believes the United Kingdom will always be a strong trading partner for the EU and part of Europe’s economic reality.

'The US relationship you is crucial because it's a very very important client. Brexit is disruptive to a process of building a scaffold we were building. And suddenly you know, one of the important members, the UK, decide that they were out. Now the UK will never go away. The UK will just always be just across the channel. The UK will always be a very important trading partner of Europe that the UK will always be a very important technology investment partner in Europe, so that will not go away. The question is, what are the, what I will call the contractual modalities, now once they have taken that decision? Of course, the UK is a member of the OECD, practically every single member of the EU is a member of the OECD. Our duty is, of course, how can we help to make this as smooth as possible, as seamless as possible, and at same time, how can it be the least disruptive as possible. This is how we have to face this reality, but the UK is not going anywhere, it's going to stay put where they are and they're going to continue to be a very very important economic reality for the whole of Europe.'