Cameron Warns Brexit Will Devastate Economy
TEHRAN (Tasnim) – UK Prime Minister David Cameron pleaded with Britons to think of their children and their economic well-being before voting to quit the EU, as polls showed a razor-tight race before the referendum.
Cameron warned that future generations would inherit a damaged, diminished economy if Britain became the first state to defect from the EU in the bloc’s 60-year history.
On the same day, billionaire financier George Soros predicted a Black Friday plunge in sterling if Britain, the world’s fifth-biggest economy, votes to go its own way.
The prospect of a Brexit has raised fears of a domino-effect collapse of the European project.
“Do think about the hopes and dreams of your children and your grandchildren,” the UK prime minister urged, clearly targeting older voters judged most likely to oppose continued EU membership.
“If we vote out, that is it. It is irreversible. We will leave Europe for good and the next generation will have to live with the consequences.”
Leaving would weaken the economy, Cameron predicted. “That is a huge risk to Britain, to British families, to British jobs,” he said, according to AFP.
European Commission president Jean-Claude Juncker said he believed “British pragmatism” would mean a defeat for Brexit and has warned the country against “an act of self-harm” that would endanger everything Europeans had worked together to achieve.
Soros, who made a fortune by betting against the pound in the so-called Black Wednesday of September 1992, said rejecting the EU would deliver a financial shock.