Saturday, June 25, 2016

Obama confident about Britain's orderly transition out of EU

US President Barack Obama said Friday that he is confident that Britain is committed to an orderly transition out the European Union.

The British "Leave" camp has won the historic referendum held on Thursday by obtaining nearly 52 percent of ballots, pulling the country out of the bloc after 43 years of membership.

"I do think that yesterday's vote speaks to the ongoing changes and challenges that are raised by globalization," Obama said at the 21st Century Entrepreneurship Summit held in Stanford University.

Obama said he had spoken with British Prime Minister David Cameron, whom he called an "outstanding friend and partner" on the global stage.

"We agreed that our economic and financial teams will remain in close contact as we stay focused on ensuring economic growth and financial stability," Obama said.

He reiterated that the "special relationship" between the US and Britain will endure and the EU will remain "one of our indispensable partners."

Obama said he had also spoken with German Chancellor Angela Merkel and the two leaders agreed that the United States and its European allies will work closely together in the weeks and months ahead. 


1 comment:

  1. EU referendum: Moody's cut UK's credit outlook to 'negative'...

    The UK has had its credit rating outlook downgraded to "negative" by the ratings agency Moody's after the country voted to leave the EU.

    Moody's said the result would herald "a prolonged period of uncertainty".

    Meanwhile, PM David Cameron is under pressure to speed up "divorce" talks with the EU after Brussels said exit negotiations should start immediately.

    EU head Jean-Claude Juncker said it was "not an amicable divorce", but it was "not a tight love affair anyway".

    Moody's said the referendum result would have "negative implications for the country's medium-term growth outlook", and it lowered the UK's long term issuer and debt ratings to "negative" from "stable"....BBC


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