US President Obama revealed that due to recent UK vote, there would be extreme challenges and this gives rise to a long-term concern in the global growth and economy. He even said that Brexit would be responsible to freeze the possibilities for investment in Great Britain or may be it would be risky for entire Europe. In this regards, he appealed UK Prime Minister along with other EU members for British exit that would be helpful to avoid the risk factors affecting global growth. So, the orderly process of British exit would start soon ensuring that the World doesn’t face any challenges due to UK vote for EU.
The EU leaders expressed their views that UK should respect people’ views of free movement if it wants to get their access to the single market. It’s for the first time the EU leaders from over 27 EU countries are attending a meeting in Brussels without UK. Since, 40 years U has been an important part of EU and after so long time UK leaves EU that’s really a shocking incident.
Obama was communicating with the leaders from the countries like Mexico and Canada at a summit in order to strengthen the economic tie ups within the North American countries. According to him, the arrangements made by Central Banks along with the Finance Ministers clearly indicate, “global economy in the short run will hold steady.” He even added, “At a time when global growth rates were weak already, this doesn’t help.” So, he is hopeful that economy would remain steady and the countries can manage the business standards without any difficulties.
Mr. Obama is focusing on Trans-Pacific Partnership and he’s against free trade that may turn out as a risky option coming out with negative impacts. On the other hand, Donald Trump, the candidate for Republican Presidential reveals, “We’ve had times throughout our history where anti-immigration sentiment is exploited by demagogues. But guess what? They kept coming.” Obama’s main message to the countries of Britain and Germany comes out as, “Everybody should catch their breath. I think that will be a difficult, challenging process, but it does not need to be a panicky process.”
He even spoke with the German Chancellor Angela Merkel and came to know that they are more interested to know how Britain’s exit works rather than their vengeance. After the meeting by the EU leaders from 27 countries it’s being divulges that admission to single market needs reception from all four freedoms. These four freedoms working for EU’s internal market includes liberty for movement of stuffs, services, capital and labors.