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Putin Says Brexit Could See EU COLLAPSE – As Leader Reveals He’s Ready for UK Dialogue. European Union Could Shrink After Brexit


  • Putin Says Brexit Could See EU COLLAPSE – As Leader Reveals He’s Ready for UK Dialogue
    RUSSIAN President Vladimir Putin has predicted the European Union could shrink after Brexit set a precedent among member states.

    Mr Putin claimed stronger members could seek to close ranks following the departure of the UK, and in turn force smaller states out. In the lengthy interview, he also said relations between him and Britain had not been at their best and would only improve if Theresa May would implement a “more independent foreign policy.” 

    Regarding the EU, the Russian leader told Bloomberg there would be imbalances. He said: “I don’t rule out that there could be some decisions made that would consolidate a group of countries with equal levels of development and, thereby, in my opinion, strengthening the euro.” Smaller countries could be squeezed out or opt to leave the economic bloc in the wake of the EU referendum in Britain, after the public voted to leave the union.

    However, Mr Putin also added he hopes for the survival of the EU’s currency, the euro. The controversial world leader explained Russia keeps 40 per cent of its currency reserves in euros – pointing this out as evidence it was not in his country’s interest for the 19-member eurozone bloc to collapse. A smaller eurozone run by leading economies could help to strength the economy, which would up the value of the reserves.

    Mr Putin also praised the leading economies within Europe for a “very pragmatic approach” to solving the bloc’s problems – despite previous concerns. 

    read more.


September 3, 2016 - Posted by | Economics, GeoPolitics | , , , , , , , ,

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