IMF warns against British exit from EU

Any exit from any current control system will be beneficial; in peace

Counter Information

By Julie Hyland
14 May 2016

The International Monetary Fund (IMF) entered into the campaign over Britain’s membership of the European Union on Friday, with dire predictions that a Leave vote in the June 23 referendum would cause recession and a slump in property values.

Speaking at the Treasury in London, IMF head Christine Lagarde warned, “We have done our homework and we haven’t found anything positive to say about a Brexit [British exit from the EU] vote.”

Every country she had visited in the last six months had expressed concerns about the outcome of the referendum, she explained. Given the “huge amount of anxiety” around the vote it was “entirely legitimate” for the IMF to make its position known, she said.

In the event of a Leave vote, Lagarde said the UK could enter into technical recession with its economy shrinking in two consecutive quarters. In anticipation, financial markets…

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