G7 ministers: “Brexit would shock to the world economy” – The Messenger

Confirmation of the agreements on exchange rate fluctuations currency without setting any target default; measures combating financing of terrorism, but also a reminder of the rise in global uncertainties, the risk Brexit and refugee crisis. The final communique of the G7 finance ministers and central bankers, which closed today in Japan summarizes the outcome of the summit.

In the note, issued by the Japanese Presidency of the summit, it is noted that on the issue of exchange rates were confirmed the agreements made in the past repeating the formula that “excess volatility and disorderly movements” in exchange rates may have an adverse impact on economic stability, and competitive devaluations should be avoided. The G7 highlights how the Brexit risk, the refugee crisis and the threat of terrorism make it more complicated economic situation and is also committed to lowering the threshold of international transactions in cash.

The Brexit would be a “shock” to the world economy: it is what they say in the final document of the finance ministers of the G7 meeting in Japan. “Global uncertainties have increased, while the geopolitical conflicts, terrorism, migration flows and the shock of a possible output of GB by the EU complicate the global economic environment,” say the ministers after two days of meetings at Akiu in Japan.

Interviewed by the BBC in Japan, the Chancellor of the Exchequer George Osborne said: “If we go out by the European Union, there will be an immediate economic shock for financial markets … people will not know what the future. And in the long term, the country and its people will be poorer. This will adversely affect the value of homes, and at the same time those who buy the first house will be hit by mortgage rates that go up. Getting a mortgage will be harder. It is a situation where everyone loses. “

More commitment to the fight against the financing of terrorism. It is the agreement reached among the ministers of the G7 finance meeting in Akiu in northern Japan. The group of seven has said the agreement to increase the exchange of financial intelligence information, reduce the level of cross-border transactions and collaborate on targeted sanctions for the financial networks of terrorists. The announcement follows two days of talks on the eve of the G7 summit to be held next week in Ise in central Japan.
 

 21/05/2016 09:41:21

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