G7 says Brexit would inflict "shock" on global economyMay 21, 2016 - 15:01 AMT PanARMENIAN.Net - A British vote to quit the European Union would inflict a "shock" on the global economy, G7 ministers said Saturday, May 21, presenting a united front against the prospect of a "Brexit," AFP says. Among the most vocal was German Finance Minister Wolfgang Schaeuble, who strongly cautioned against opting to leave the 28-member EU in next month's referendum. "We were all of the opinion that it would be the wrong decision for the UK," Schaeuble said at the conclusion of two days of talks in northern Japan among Group of Seven finance ministers and central bank chiefs. "But it's a decision to be taken by the British voters. We're concerned that it could have negative consequences for the European and the world economy." The club of rich nations also issued a statement that warned a Brexit would only worsen the outlook for an unstable world, AFP says. "Uncertainties to the global outlook have increased, while geopolitical conflicts, terrorism, refugee flows, and the shock of a potential UK exit from the European Union also complicate the global economic environment," they said. As the June 23 referendum on Britain's future draws closer, finance minister George Osborne said his meetings with G7 counterparts underscored the gravity of the in-out decision. If voters opt to leave, Britain would find it "extremely difficult" to conclude trade deals with European Union countries, he told the BBC. Related links: Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Surveying works underway in Armenia’s Kirants Surveying works are underway in the Armenian village of Kirants in the northern Tavush province. Armenia calls for prohibiting threats of attacks on nuclear facilities Armenia has raised the need for a treaty prohibiting attacks on nuclear facilities devoted to peaceful purposes. Armenia says ready to extend nuclear plant’s lifetime by 10 years Armenia has taken necessary measures to extend the lifetime of its nuclear power plant until 2036. Ameriabank's Trade Finance portfolio enriched with four prestigious awards from EBRD and IFC Ameriabank received the awards from international financial institutions in recognition of its trade finance operations. |