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In the News
October 24, 2019
Upstate business leaders weigh possible effects as Brexit moves closer to conclusion
Upstate Business Journal
What are the implications of the U.K’s withdrawal from the European Union on the United States and, in particular, the Upstate of South Carolina?
Jay Rogers, a Nelson Mullins partner who provides corporate counsel to U.S.-based and international businesses, says that Brexit will likely have no ramifications here unless there’s a “Lehman effect” from the U.K.’s withdrawal.
The Lehman Brothers collapse in 2008 is considered one of the first “dominos” that led to the financial crisis. “They were one of the largest investment banks in the world,” Rogers explains. He says it’s possible that Brexit could have a similar effect.
“The U.K. could weaken the EU, and the EU could weaken other countries in turn and could potentially reach us,” he says.
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Caroline Balchunas
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caroline.balchunas@nelsonmullins.com
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