WASHINGTON (Sputnik) — On June 23, the United Kingdom held a referendum to determine whether or not the country should leave the European Union. According to the final results, 51.9 percent of voters, or 17.4 million people, decided to support Brexit, while about 16.1 million opposed it.
"Brexit will have a limited direct impact on the CEE [Central and Eastern Europe] region, as countries have few direct linkages to the UK and risks to fiscal loosening are offset by recent fiscal improvements," the release stated.
The rating agency noted that Slovakia, the Czech Republic and Hungary have the greatest number of investment links with the UK in the region, but even their exposure to the market does not exceed 5 percent of GDP.
"While the risk of further fragmentation in the EU remains low, Moody's notes that the Brexit vote may embolden anti-EU and anti-austerity movements in the CEE in the short-term and poses a threat to EU member cohesion in the long-term," Moody’s added.
