G7 says Brexit would inflict "shock" on global economyMay 21, 2016 - 15:01 AMT PanARMENIAN.Net - A British vote to quit the European Union would inflict a "shock" on the global economy, G7 ministers said Saturday, May 21, presenting a united front against the prospect of a "Brexit," AFP says. Among the most vocal was German Finance Minister Wolfgang Schaeuble, who strongly cautioned against opting to leave the 28-member EU in next month's referendum. "We were all of the opinion that it would be the wrong decision for the UK," Schaeuble said at the conclusion of two days of talks in northern Japan among Group of Seven finance ministers and central bank chiefs. "But it's a decision to be taken by the British voters. We're concerned that it could have negative consequences for the European and the world economy." The club of rich nations also issued a statement that warned a Brexit would only worsen the outlook for an unstable world, AFP says. "Uncertainties to the global outlook have increased, while geopolitical conflicts, terrorism, refugee flows, and the shock of a potential UK exit from the European Union also complicate the global economic environment," they said. As the June 23 referendum on Britain's future draws closer, finance minister George Osborne said his meetings with G7 counterparts underscored the gravity of the in-out decision. If voters opt to leave, Britain would find it "extremely difficult" to conclude trade deals with European Union countries, he told the BBC. Related links: Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. Pashinyan: Armenia’s desired goal is “on the horizon” Prime Minister Nikol Pashinyan has said that Armenia is moving forward “without interruption”. Opposition leader, supporters spend night at Sardarapat memorial Police made nearly 300 arrests the day before as Galstanyan and his supporters continued to demonstrate in Yerevan. |