If the United Kingdom plunges into a no-deal (hard) Brexit, then it is very difficult to predict what will happen to the economy in the short-term. The reason is that there are virtually no precedents to a country leaving an economic bloc in which it has been thoroughly integrated for many years. This podcast features the ideas of Professor Peter Murrell on how the transition from socialism in Eastern Europe does provide parallels. "The portents are bad indeed," Murrell said.