A declaration at the G7 meeting in Japan says a vote by the UK to leave the European Union would pose a “serious threat to global growth”.<\/p>\n
In their final statement, the group warned that a UK exit from the EU would reverse the trend of increased global trade, investment and jobs.<\/p>\n
The meeting brings together the world’s leading seven industrialised nations.<\/p>\n
The final communiqu\u00e9 set global growth as a priority for dealing with threats to the world’s economy and security.<\/p>\n
But the warning about the economic consequences of the UK leaving the European Union comes as Britain prepares for a referendum on 23 June.<\/p>\n
Prime Minister David Cameron has been campaigning for Britain to stay within the 28-country bloc with recent polls suggesting a lead for those who support remaining within the EU.<\/p>\n
That Brexit has been seen as a serious risk to the world economy at the G7 shouldn’t surprise anyone.
\nThe G7 finance ministers meeting over the weekend in Sendai came to the same conclusion – and it was what the Japanese Central Bank Governor Haruhiko Kuroda told me in an interview earlier this week.<\/p>\n
What is surprising is how much of an impact this communique says a yes vote will have on global growth – jobs, investment and trade will be affected.<\/p>\n
But it’s also sentiment – investors are nervous about what Brexit will mean for confidence in Europe and how it will change the landscape of the world economy.<\/p>\n
No one likes uncertainty and with 26 days left before the referendum, expect a lot more of these sorts of global statements.<\/p>\n
Growth priority<\/strong> The group pledged to “collectively tackle” major risks to global growth, including threats to the international order from terrorist attacks and violent extremism.<\/p>\n In their statement they promised to commit “to strengthening our economic policy responses in a cooperative manner and to employing a more forceful and balanced policy mix, in order to swiftly achieve a strong, sustainable and balanced growth pattern”.<\/p>\n “We remain committed to ensuring that growth is inclusive and job-rich, benefiting all segments of our societies,” the document added.<\/p>\n They also called for international markets to be kept open to fight all forms of protectionism and for countries to avoid competitive devaluations of their currencies.<\/p>\n Migrant crisis a global challenge The communiqu\u00e9 described the migrant crisis in Europe “as a global challenge which requires a global response” of increased aid from international financial institutions and donor countries.<\/p>\n The statement went on to express “concern about the situation in the East and South China Seas” where maritime disputes have lead to increasing regional tensions over the past years.<\/p>\n While there is no mention of China and its expansion into territorially disputed waters specifically, the document calls for respecting freedom of navigation and for resolving conflicts peacefully through law.<\/p>\n –<\/p>\n Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":" A declaration at the G7 meeting in Japan says a vote by the UK to leave the European Union would pose a “serious threat to global growth”. In their final statement, the group warned that a UK exit from the EU would reverse the trend of increased global trade, investment and jobs. The meeting brings […]<\/p>\n","protected":false},"author":7,"featured_media":217411,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[107],"tags":[],"class_list":["post-217410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/217410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=217410"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/217410\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/217411"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=217410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=217410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=217410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nAfter two days of talks, the leaders of the US, Canada, Britain, Italy, Germany, France and Japan set global growth as an “urgent priority.”<\/p>\n
\nIn addition to focusing on the world’s economic challenges, the group also highlighted a number of wider policy issues.<\/p>\n