Britain will have to fight off the twin economic evils of recession and inflation once it leaves the safety of the EU.

According to Francois Villeroy de Galhau, a member of the Governing Council from European Central Bank, Britain is likely to face a recessionary trend, increased inflation and other challenges once it leaves the safety of the European Union.

“In the short term there is a difficult challenge for the British economic and monetary policy between two contradictory challenges: there is the challenge of inflation, with the effects on inflation of the fall of the pound, which is down 11 percent since Brexit,” said Villeroy during a business conference in Aix-en-Provence, in southern France.

He went on to add, “And then there is recession challenge with the tendency to see less growth due to the uncertainty impact on investments. And it is always very complicated for monetary and economic policy to be caught in this dilemma.”

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Tags: Top, EU, European Union, Britain, Brexit, fallout, impact, analysis, Francois Villeroy de Galhau, European Central Bank, ECB, recession, inflation