Shock, bewilderment and stalled investment sum up the reaction in Portugal to the UK’s referendum vote to leave the EU.
“We were shocked, frankly,” said Nuno Nunes, director of capital markets at CBRE in Lisbon. “And we felt a bit like, ‘Why don’t you want to be together with us anymore?’ It’s like we were in a relationship and you said ‘It’s all over’ but we are still in love.”
Nunes added that some inward overseas investment into Portugal, particularly from the US, had stalled as a result of the vote as private equity and hedge funds took “a summer break” to see how the result beds down.
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