Britain and Brexit: What the rest of the world says

Reuters: The prospect of Britain voting to leave the European Union in a June 23 referendum has worried many foreign leaders and international bodies, leading to warnings about a loss of British influence and a possible blow to the global economy.

Leaders of the “In” campaign have pointed to the chorus of concern to bolster their pitch to voters. The rival “Out” camp has said the sight of foreign leaders telling Britons how to vote only helps their push to get the country out of the bloc.

Below is a summary of comments:

US President Barack Obama

Obama told Britain on April 22 that it would go to “the back of the queue” for trade talks with Washington if it left the EU. He combined the blunt warning with praise for Britain’s influence within the 28-nation bloc, something Washington considered important to its own interests.

US Democratic presidential front-runner Hillary Clinton also wants Britain to stay in the EU.

Russian President Vladimir Putin

Putin, speaking on 17 June, questioned why British Prime Minister David Cameron had called the referendum. “If it’s such a problem, why did he initiate this, if he is against it himself?” Putin said.

He also said Moscow wanted to talk to a strong Europe but declined to give his views on the vote.

Campaigners for Britain to remain in the EU, including Cameron, have suggested that Putin would favour a Brexit.

US Federal Reserve Chair Janet Yellen

Like many of her fellow policymakers at the U.S. central bank, Yellen has mentioned a Brexit vote as a factor that could upset financial markets, potentially pushing back the timing of the next U.S. interest rate hike.

“It is a decision that could have consequences for economic and financial conditions in global financial markets. If it does so it could have consequences in turn for the U.S. economic outlook that would be a factor in deciding on the appropriate path of policy,” she said on 15 June.

US Republican Presidential Candidate Donald Trump

Striking a typically non-mainstream tone, Trump said on 5 May that Britain would be better off outside the EU because of high levels of migration. “I think the migration has been a horrible thing for Europe. A lot of that was pushed by the EU. I would say that they’re better off without it personally, but I’m not making that as a recommendation – just my feeling,” he told Fox News.

On 15 May he said Britain would not be at the back of the queue for trade deals if he becomes president.

Chinese Premier Xi Jinping

China, which is sensitive to comments from abroad and usually does not talk about other countries’ domestic affairs, issued a veiled call on Britain to stay in the EU when its leader Xi Jinping visited the country last October. “China hopes to see a prosperous Europe and a united EU, and hopes Britain, as an important member of the EU, can play an even more positive and constructive role in promoting the deepening development of China-EU ties,” he said.

Japanese Prime Minister Shinzo Abe

Abe used a visit to London on 5 May to warn Britain that a vote to leave the EU would make Britain less attractive for Japanese investors. “Japan very clearly would prefer Britain to remain within the EU,” he said “Many Japanese companies set up their operations in the UK precisely because the UK is a gateway to the EU ... A vote to leave would make the UK less attractive as a destination for Japanese investment.”

German Chancellor Angela Merkel

Merkel said on 2 June that Germany wants Britain to stay in the EU and Britons would be better off if London can continue to wield power from within the bloc rather than from the outside.

In March, Finance Minister Wolfgang Schaeuble said it would be extremely difficult or even impossible for Britain to negotiate a “special deal” on trade with the EU if it left the bloc. “Imagine the negotiations that would have to take place after a Brexit decision. For the years to come all this bureaucratic stuff. Good luck!” he said.

French Economy Minister Emmanuel Macron

Britain would become a minor trading post with no more significance on the world stage than the island of Guernsey if it votes to leave the EU, Macron said on 18 June. “It would isolate itself and become a trading post and arbitration place at Europe’s border,” Macron said.

IMF Managing Director Christine Lagarde

International Monetary Fund chief Christine Lagarde said on 13 May that the impact of a Brexit on Britain’s economy would range from “pretty bad to very, very bad”.

The fund said on 18 June that Britain’s economy could be between 1.5 and 5.5% smaller by 2019 if it voted “Out” compared with a decision to stay in the EU.

Organisation for Economic Co-Operation and Development

The OECD warned Britons about a possible a “Brexit tax” equivalent to a month’s salary by 2020 given the likely economic hit. Its Secretary General Angel Gurria urged Britons to think carefully about how they would fare outside the bloc. “Britain, look at yourself in the mirror, naked. Do you like what you see? Mostly I hope you come out saying: not too much.”

EU Economics Commissioner Pierre Moscovici

Britain leaving the EU would amount to a “lose-lose” situation, Moscovici said on 8 May. “I wish passionately for Great Britain to remain in the European Union,” he told France’s BFM TV. “I think it would be lose-lose, a loss for them and a loss for us, if Britain left.”