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Brexit to Become 'Poisonous' for Economies of Europe, UK

Brexit - Sputnik International
German Finance Minister stated that London's possible exit from the European Union would be a "poison" for the economies of both the United Kingdom and the 28-nation bloc.

London Mayor Boris Johnson is seen speaking on the BBC's Andrew Marr Show in this photograph received via the BBC in London, Britain March 6, 2016 - Sputnik International
London's Mayor Calls EU Membership a Prison Sentence Amid Brexit Rhetoric
MOSCOW (Sputnik) London's possible exit from the European Union would be a "poison" for the economies of both the United Kingdom and the 28-nation bloc, German Finance Minister Wolfgang Schaeuble said in an interview released on Sunday.

"Let's have the referendum [on British EU membership] was to go that way. We would have years of the most difficult negotiations, which would be difficult for the EU as well. And for years we would have such insecurity that would be a poison to the economy in the UK, the European continent and for the global economy as well," Schaeuble said in an interview with BBC broadcaster, answering the question what would happen to the European Union if Britain left the bloc.

He added that possible Brexit would weaken Europe and harm the interests of the United Kingdom.

UK citizens are set to vote on June 23 in a referendum on the country's EU membership, after UK Prime Minister David Cameron and the leaders of the 27 other EU member states reached a deal in February to grant London a special status within the bloc.

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