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    A picture taken on June 25, 2016 in Athens shows the front page of the Greek newspaper 'Ta Nea' reading 'be afraid of Brexit' and other newspapers bearing headlines reporting the result of the UK's vote to leave the EU in the June 23 referendum

    Brexit Represents Insignificant Challenge to Global Economy

    © AFP 2018 / Angelos Tzortzinis
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    Brexit does not pose a significant challenge to the global economy, the German central bank, the Deutsche Bundesbank, said in a report issued on Monday.

    MOSCOW (Sputnik) – A strengthening labor market in the United States as well as the stabilizing economic situation in developing economies suggest that risks to the global economy have decreased, the Bundesbank concludes in the report.

    "A weaker growth of the British economy poses alone no significant threat to the global [economic] environment," the report estimates.

    The report stresses that the European Central Bank did not take any emergency steps after the United Kingdom's decision to leave the European Union.

    At the same time, the Bundesbank noted that the real consequences of Brexit for the German economy were difficult to assess at this point.

    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.

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