No-deal Brexit would be worse for the UK economy than Covid-19, says Bank of England governor



London (CNN Business)Bank of England Governor Andrew Bailey has warned that failing to secure a new trade deal with the European Union would do more damage to the UK economy over the long run than the coronavirus pandemic. "I think the long-term effects ... would be larger than the long-term effects of Covid," Bailey said Monday in response to a question from a lawmaker on what would happen if the UK government does not complete a deal before the December 31 deadline. "It takes a much longer period of time for what I call the real side of the...

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