23.02.201707:04:00UTC+00ECB lead economist signals Brexit could become awful

European Central Bank's lead economist signaled the United Kingdom's imminent exit from the United Kingdom will have a crucial impact on bilateral trade, adding being indifferent could turn things somewhat arduous.

ECB official Peter Praet said Thursday he is certain that more frictions will emerge in trade. He earlier mentioned the impact on trade in products and services would be significant, and that it would hugely affect investment.

Praet is still upbeat but one cannot be totally positive because history teaches us that certain matters can turn things somewhat excruciating.

UK Prime Minister Theresa May previously mentioned she intends to activate Article 50 by next month, commencing the official procedure of leaving the EU that could end in around two years.

Meanwhile, touching on the eurozone's economy, the policymaker said its recovery remains weak, with perils aggravated by political skepticism prior to main elections in the bloc this year.