Forecast: Serious decline of Euro expected

Baku. 31 March. REPORT.AZ/ Current euro exchange rate ignores the full extent of the economic damage that will be caused to the euro zone in case of Britain's exitfrom theEU.

Report informs referring to Lenta.ru, this opinion was expressed by Bank of America Merrill Lynch. In this regard, they recommend to bet on the decline of the euro against the dollar to hedge risks associated with Brexit.

Euro, according to Merrill Lynch will be weakened on the eve of the referendum, if the market comes to concern about the possible consequences of Britain's exit. If, however, Britain decides to leave the EU, the fall of the euro will be even more noticeable.

Guardian referring to the analytical review, compiled by the auditing company Pricewaterhouse Coopers for a group of British Chambers of Commerce (the CBI), said that exit from the European Union may cost UK 100 bln pounds sterling loss (about 5% of GDP) and 950 thousand jobs.

Plebiscite on the UK's membership of the EU will be held on June 23. The question in the referendum bill is formulated as follows: "Should the United Kingdom to remain a member of the European Union?"