G20 Leaders Say Brexit Could Lead to Global Economic Shock


Finance Ministers from the G20 have issued a statement saying that a British exit from the European Union could be a “shock” to the global economy.

The statement included the text:

“Downside risks and vulnerabilities have risen, against the backdrop of volatile capital flows, a large drop of commodity prices, escalated geopolitical tensions, the shock of a potential UK exit from the European Union and a large and increasing number of refugees in some regions”.

The Treasury said that the warning was suggested by other members of the G20 and wasn’t led by George Osborne, the Chancellor of the Exchequer.