VAROUFAKIS: A Brexit would be 'a further step towards the disintegration of the EU'
REUTERS/Yves Herman
Varoufakis, who ran Greece's economy during crucial bailout talks and resigned last year, told Business Insider Deutschland:
If the British think they can simply detach from the continent and sail towards the USA or China, then they are mistaken. There are industry and working standards they cannot simply bow out of.
I don't believe a Brexit will hurt the City of London as one of the largest financial centers in the world. However, this would be a further step towards the disintegration of the EU. For the first time, the Union would not expand but shrink. A dangerous trend.
Pro-Brexit campaigners will be heartened to hear that Varoufakis thinks London's financial prowess will not be affected by leaving the European Union.
But the economist clearly believes Britain would leave with blood on its hands, as a British exit could lead to a collapse of the European Union.
David Cameron promised a referendum on Britain's membership of the European Union as part of last year's general election campaign. Cameron and the Tory party are officially pro-Europe but the Conservative Party leader was forced to concede the referendum, which is expected to be held this summer, as support for anti-Europe party UKIP rose across the UK.
In the latest YouGov poll, commissioned by The Times newspaper, 45% are in favour of leaving the 28 nation bloc while 36% support staying in the EU.
Varoufakis made the comments on the Brexit as part of a larger, exclusive interview with BI Deutschland, our German sister site. You can read the full interview, in English, here.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market