Morning Meeting: Brexit's Impact on Euro Area GDP

The video discusses the potential impact of Brexit on the Eurozone economy, with a focus on GDP reduction and economic uncertainty. It highlights the challenges in modeling these impacts and the role of economic theory. The European Central Bank (ECB) is not in a rush to change policies, leaving governments to take action through infrastructure projects and investment cycles. The ECB may extend its key program and cut rates, but significant policy changes are not expected until September.

What measures is the ECB considering in response to the economic situation post-Brexit?

What is the significance of the July 21st meeting for the ECB's policy decisions?