Posen: Brexit Is Cost of Ignoring Economic Reality

The video discusses the economic impact of a recession on global markets, highlighting the fall of the pound and losses in European banks. It examines the accuracy of economic predictions and the realities faced, particularly in the UK. The discussion includes political reactions and strategies for economic resilience, emphasizing the importance of learning from the UK's experience with populism and economic challenges.

What was one of the expected outcomes of the economic downturn discussed in the first section?

• Strengthening of the pound

• Increase in UK construction investment

• Cratering of UK construction investment

• Stability in European banks

Which expert is mentioned as having a victory lap for predicting a specific economic outcome?

• Rupert

• Steve Major

• Mark Carney

• Angela Merkel

What is one of the hopes for Europe in response to the economic crisis?

• To ignore economic realities

• To dissolve the euro area

• To take practical steps for resilience

• To increase political divisions

What is said about the global financial system in the final section?

• It is more resilient than pre-crisis

• It is on the verge of collapse

• It has not changed since the crisis

• It is weaker than before the crisis

What lesson is suggested for the UK regarding its economic decisions?

• Economic decisions are irrelevant to political outcomes

• Ignoring economic realities comes with a cost

• Playing games with populists has no consequences

• There is no cost to ignoring economic realities