Obama says Brexit talks must not harm "wobbly" world economy

By Reuters   July 9, 2016 | 05:26 pm PT
Obama says Brexit talks must not harm "wobbly" world economy
U.S. President Barack Obama and Poland's President Andrzej deliver remarks to reporters after their meeting at the NATO Summit in Warsaw, Poland July 8, 2016. Photo by Reuters/ Jonathan Ernst
U.S. President Barack Obama urges importance of avoiding doing "damage" to a "wobbly" world economy.

U.S. President Barack Obama said on Saturday (July 9) he expected Britain to go through with leaving the European Union after last month's referendum and was concerned to limit the damage to the British, European and global economies from the move.

"I think we have to assume that a referendum, having been passed with a lot of attention, a lengthy campaign and relatively high participation rates, is going to stick and that the incoming government, a Conservative government, is going to invoke Article 50 and begin the process of negotiations. How that process unfolds, how the negotiations work, I think is going to be up to the parties involved," Obama told a news conference at the end of a NATO summit in Warsaw.

As a friend, ally and trading partner of Britain and of the EU, he said Washington wanted to see an orderly negotiating process and as close a relationship as possible in future.

"It's important that neither side harden positions in ways that ultimately do damage to their respective economies and ultimately to the world economy at a time when our world economy is still pretty wobbly in places," said Obama.

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