IMF: Britain leaving Europe worries the world

International Monetary Fund (IMF) Director Christine Lagarde said the risks from the June 23 referendum are "a concern not only for the UK, but also for the world".

“I haven’t had a meeting in the last three or four months with any leader, any policymaker or anybody where I haven’t been asked about the implications of this,” she said in an interview with CNBC yesterday.

Most people focus on the negative effects, rather than the benefits and positives. “The UK is getting huge benefits from being part of the single market,” she said.

Many economists believe that the UK will pay the price, with negative impacts on incomes, trade and other activities due to the uncertainty. The IMF chief said that when one economist disagrees with another, that is normal. But when everyone agrees, it is really worrying.

Ms. Christine Lagarde - Director of the International Monetary Fund (IMF). Photo: Reuters

Ms Lagarde said Britain had always been a champion of doing things faster, with less red tape and more efficiency. She also hoped Europe would work to improve itself.

Earlier, she also gave a speech on European unity. The EU is being questioned about its unity and effectiveness due to the migration crisis, economic instability and the upcoming UK referendum.

Polls show that the odds of leaving and remaining in the EU are very close. And if the British vote to leave, the EU will certainly be in political turmoil.

In her speech, Ms Lagarde argued that Europe needed to move closer together. "Too many Europeans are now worried about their culture, their security, their jobs, their incomes and their quality of life. Too many are convinced that things would be better if Europe returned to the era of closed borders and economic nationalism," she said.

According to VNE