As Brexit talks begin, Europe sees economic upswing over UK
LONDON — When Britain voted to leave the European Union a year ago, proponents argued that the British economy was being held back by the slow-growing, dysfunctional bloc.
A year on, and with the Brexit divorce talks finally starting, the situation is radically different.
Britain’s economy is growing more slowly than Greece’s, its households are getting poorer as inflation rises and the government is struggling to stay in power. The remaining 27 members of the EU, meanwhile, appear to have pushed into a higher gear and found renewed vigour from the election of pro-EU governments like that of France.
“The tables have turned somewhat,” said James Nixon, chief European economist at Oxford Economics. “The European economy is now enjoying a solid upswing and sentiment, especially towards the EU, is improving.”