Obama: Global economy "will hold steady" in short-term despite Brexit

The global economy looks likely to "hold steady" in the short-term despite Britain's decision to leave the European Union, US President Barack Obama says after meeting with his North American counterparts in Canada.

However, he warns, "there are genuine longer-term concerns about global growth if Brexit goes through and that freezes investment possibilities in Britain, or Europe as a whole."

Obama says he has told European leaders to "catch their breath" as they come up with an orderly plan for the transition and was reassured by German Chancellor Angela Merkel that the continent is not interested in "retribution" but in making sure the process works.

Last update: Thu, 30/06/2016 - 10:51

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