#QOTD -- Brexit and the ECB

While European leaders were summiting in Brussels and while voters were casting ballots in the UK, the ECB released GDP growth projections for the next three years.

They anticipate EU GDP growth will dip down to 1.4% during 2020, based in no small part on the relatively rosy assumption that Brexit will be orderly. This baseline assumption may require reconsideration as the new Johnson majority takes the reins of government in Whitehall.