Lagarde: Portugal’s tourist market will be ‘hit hard’ if the UK crashes out of the EU

A messy Brexit could have “significant consequences” and is the biggest short-term risk to the British economy, Christine Lagarde said to Portugal’s state council, the Portuguese president’s highest consultative body.

“All likely Brexit outcomes will involve net costs for the UK economy. But the higher the impediments that arise in the new relationship with Europe, the higher the cost,” added the IMF chief.