Golman Sachs: UK exit from European Union would be ‘loss/loss scenario’

An article in the UK’s Telegraph has Goldman Sachs saying:

a British departure from the EU would result in a “loss/loss scenario” in which both the UK and the rest of the bloc would be damaged

Goldman does not expect an in/out referendum because the Tories first need to win an outright majority and, the bank reckons, “at this stage, this doesn’t appear likely”

• If the UK left the union it is unlikely it could negotiate the same access to the EU single market that Switzerland and Norway have achieved
• If the UK left the union the UK’s ability to conduct business in financial services across the European Union is likely to be “severely compromised”
• While an exit would be lose/lose, its likely that the loss would be greater for the UK than for the EU