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WTO chief warns UK would have to renegotiate membership if Brexit wins

Thursday, May 26th 2016 - 05:33 UTC
Full article 13 comments
Roberto Azevedo doubted claims made by supporters of Brexit that Britain would be able to access the European market through the WTO Roberto Azevedo doubted claims made by supporters of Brexit that Britain would be able to access the European market through the WTO

Britain would face grueling negotiations to set the terms of its World Trade Organization membership if it decided to leave the European Union, the group's chief warned in Thursday's Financial Times.

 WTO director-general Roberto Azevedo doubted claims made by supporters of a so-called Brexit that Britain would be able to access the European market through the WTO if it were unable to secure favorable alternative deals on leaving the EU.

”Pretty much all of the UK's (global) trade would somehow have to be negotiated,“ he told the business newspaper, adding Britain would not be allowed to ”cut and paste“ a new deal.

The warning follows similar interventions by the British Treasury, the Bank of England, the International Monetary Fund and US President Barack Obama, who have all raised the specter of negative economic consequences of a Brexit.

Polls currently show the ”Remain” camp in the lead ahead of the 23 June in-out referendum. Britain's current WTO membership is under the agency of the EU.

Categories: Politics, International.

Top Comments

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  • Think

    Dear Little Britain pirates, privateers, picaroons, pilferers, plunderers, pillagers and other good folks...

    Don't listen to them dagos...

    VOTE FREEDOOM...

    :-)))

    May 26th, 2016 - 06:47 am 0
  • CapiTrollism_is_back!!

    Is it me or is England being told on every corner street and by everyone from the EU (Germany, France, Italy, Spain, Netherlands), the UN, United States, China, ASEAN, India,... to the WTO, IMF, and even Scotland and Northern Ireland, that if they leave the EU they can basically stuff themselves where the moon don't shine?

    I thought England (UK), was loved by everyone and not only that, the world needed them more than they needed the world? Isn't that the daily narrative here and everywhere else Britto posters frequent?

    Why then does the evidence and news cycle indicate the exact opposite? Basically, they are being told they will have to start from ZERO and probably get less favorable terms in world agreements than superpowers like Latvia, Tunisia, Cambodia, Guatemala, and Fiji enjoy today?

    Hahahaha, please leave as the above says. It is for everyone's best. (wink)

    May 26th, 2016 - 09:05 am 0
  • DennisA

    More false scares. The establishment doesn't want to disturb the cosy deals in place. Existing treaties would continue.

    May 26th, 2016 - 09:09 am 0
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