Estonian Central Bank: UK decision probably won't lead to economic decline

While the decision of the United Kingdom to leave the European Union increases uncertainty, it will probably not result in a major decline of the economy, the Bank of Estonia finds.

Britain’s decision to leave the EU is extremely regrettable, the central bank's Vice-President Ulo Kaasik told BNS on Friday. "In our opinion it is definitely bad both for the United Kingdom and all other members of the European Union."

Kaasik said that while nothing will change right away, businesses will face many unknowns.

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Estonian Central Bank: UK decision probably won't lead to economic decline