Economist who once advised European Commission switches allegiance from Remain to Leave

A LEADING economist who was a senior advisor to the European Commission, has switched from the Remain camp to Leave over his fears of the economic consequences of staying in the EU.
Leading remain economist changes sides to support brexit
By DAVID MADDOX, EXCLUSIVE
04:16, Thu, Jun 16, 2016 | UPDATED: 08:10, Thu, Jun 16, 2016

Professor Brian Sturgess, the Managing Editor of World Economics has also expressed his “disgust” over the Project Fear campaign waged by Downing Street and the Remain campaign to persuade voters not to back Leave. In a damning analysis, Professor Sturgess has warned that his monthly analysis of currencies has highlighted that the eurozone is on the point of collapse.

 the strains within the single currency area as “crippling” and points out that while the euro is undervalued in Germany by eight per cent it is overvalued in France by an enormous 13 per cent. This means Germany has a massive cash surplus while France cannot pay its debts.

He said: “There is no doubt that the eurozone will break up and it will be better for Britain if it is not part of the EU when that happens because we will end up having to pay to support other members when it happens.”

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He said he changed from Remain to Leave about a month ago partly out of shock over the tactics used by the Treasury and Downing Street. He said: “I switched to Leave around a month ago, I was always eurosceptic but I was disgusted at by the hysteria coming from Remain.

David Cameron has been accused of scaremongering

“The dangers have been completely over exaggerated. For example the worst that could happen to manufacturing is a three per cent tariff, that’s not going to make companies like Nissan move [from the UK], it isn’t going to make a difference.” He added: “I think it’s shocking for a Prime Minister and Chancellor to talk down their country and that has in itself had an effect on the economy.”

Sturgess: "I think it’s shocking for a Prime Minister and Chancellor to talk down their country" He also said that scaremongering over the pound falling with a Brexit was wrong. He pointed out that the pound is currently five per cent overvalued on the money markets which “means it will have to come down anyway whatever the [referendum] result.”

David Cameron and the Remain campaign have been nicknamed 'Project Fear.'  I don’t buy the argument that we will be punished for leaving at all. Professor Brian Sturgess He added: “I don’t buy the argument that we will be punished for leaving at all.”

He pointed out that Remain’s argument over the single market covering 508 million people ignored the fact that 62 million of those people are citizens of the UK, the world’s fifth biggest economy.

He went on: “Also if we stay in there is no chance of reforming the EU. If we leave it will force the other countries to look again and make changes.