A British secession from the European Union in next month’s referendum could have disastrous economic consequences, G7 leaders warned on Friday at the close of a summit in Japan. The grouping is the latest to sound the alarm over the possibly far-reaching dangers of one of the continent's largest economies opting to go it alone.
“A UK exit from the EU would reverse the trend towards greater global trade and investment, and the jobs they create, and is a further serious risk to growth,” they said in a declaration after talks largely focused on kickstarting the world economy. The comments highlight international concern over the possibility of so-called ‘Brexit’, as British voters prepare for a June 23 referendum to decide whether to leave the 28- country bloc. leaders and ministers from the powerful Group of Seven democracies reiterated their concerns in Japan, although they were careful to stress that the decision was up to the people of Britain.
“This summit is sending the signal that all of us hope that Great Britain remains a member of the European Union,” German Chancellor Angela Merkel said, after meeting with her counterparts from Britain, Canada, France, Italy, Japan, and the United States. “But of course the decision has to be made by the British voters,” she added. UK PM David Cameron has been campaigning for Britain to stay in, with recent polls suggesting a widening lead for supporters of continued EU membership.