Bri­tish PM chal­lenges Brexit sup­port­ers to ad­mit risks

The Pak Banker - - MARKETS/SPORTS -

Prime Min­is­ter David Cameron on Sun­day chal­lenged sup­port­ers of a Bri­tish exit from the Euro­pean Union to ad­mit the risks in­volved, as the bat­tle for votes stepped up ahead of the June ref­er­en­dum.

In an ar­ti­cle for the Sun­day Tele­graph, Cameron warned that gaps in the case for a Brexit made it the "gam­ble of the cen­tury". "When the peo­ple cam­paign­ing for 'out' are asked to set out a vi­sion out­side the Euro­pean Union, they be­come ex­tremely vague," the prime min­is­ter wrote. "It's sim­ply not good enough to as­sert ev­ery­thing will be all right when jobs and our coun­try's fu­ture are at stake."

Cameron dis­missed sug­ges­tions that Bri­tain could still have ac­cess to the EU sin­gle mar­ket while opt­ing out of the free move­ment of peo­ple. He ques­tioned what would hap­pen to Euro­pean se­cu­rity co­op­er­a­tion, and chal­lenged the idea that Bri­tain would have more in­flu­ence on the world stage if it went it alone.

"There is no doubt in my mind that the only cer­tainty of exit is un­cer­tainty; that leav­ing Europe is fraught with risk," he wrote. The ar­ti­cle is one of nu­mer­ous in­ter­ven­tions on the EU in the week­end's news­pa­pers, as the key play­ers step up their ef­forts to woo a di­vided pub­lic ahead of the June 23 vote. Cameron is also try­ing to per­suade mem­bers of his Con­ser­va­tive party. Six se­nior min­is­ters are back­ing a Brexit, along with sig­nif­i­cant num­bers of Tory MPs.

In a boost for Cameron's case, G20 fi­nance min­is­ters warned that a Brexit would be a "shock" that ranks among ris­ing down­side risks and vul­ner­a­bil­i­ties for the world econ­omy. But on Satur­day, mayor of Lon­don Boris John­son, a long-term ri­val to the prime min­is­ter who is lead­ing the Brexit cam­paign, said the "Re­main" camp was ex­ag­ger­at­ing the risks. "I will do my ab­so­lute best to dis­miss Pro­ject Fear, which I think is non­sense. Bri­tain could have a re­ally great fu­ture, with a more dy­namic econ­omy and a hap­pier pop­u­la­tion," John­son told me­dia.

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