European Central Bank President Mario Draghi expressed "sadness" on Monday at Britain's vote to leave the European Union, which has roiled global markets and raised questions about the future of the EU.
The Brexit vote has pummeled the pound and hammered banking shares, leaving investors waiting for a response from major central banks.
In his first comments on the result of last Thursday's referendum, Draghi said: "Sadness is the best word for what we feel when we witness changes of this magnitude."
Lew sees orderly markets post-Brexit and no sense of crisis
Treasury Secretary Jacob Lew on Monday said the market selloff in the wake of Brexit has been orderly and “there is no sense of a financial crisis developing.”
“I am not saying there is not an impact on markets, but it has been an orderly impact so far,” Lew said in an interview on CNBC.
The U.K.’s vote to exit the European Union spawned turmoil in financial markets
The fallout from the British referendum will be another economic headwind for the U.S. economy, Lew said.
Germany, France and Italy say UK must launch Brexit process
The leaders of Germany, France and Italy jointly demanded Monday that Britain should formally launch the process for exiting the European Union before any negotiations on the terms of the divorce can take place.
Speaking in Berlin alongside French President François Hollande and Italian Prime Minister Matteo Renzi, Chancellor Angela Merkel said they had all “agreed that there will be no informal or formal talks about an exit of Great Britain until a request has been submitted to the European Council.”
“We don’t want this to turn into a never-ending story,” Merkel added.
Greenspan Calls Brexit a ‘Terrible Outcome’
U.K. policy makers miscalculated and made a “terrible mistake” in holding a referendum on whether to quit the European Union, in which voters opted to leave the bloc, former Federal Reserve Chairman Alan Greenspan said.
That decision led to a “terrible outcome in all respects,” Greenspan, 90, said in an interview with Bloomberg Surveillance on Monday in Washington. “It didn’t have to happen.”
Greenspan said he did not have sympathy for the idea that the U.K. would be better off outside the EU, despite the problems the bloc faces in a structure where countries with different economies and cultures share the same currency.
“The EU is fundamentally a very good idea,” Greenspan said. “It’s a free trade-zone structure, which we need an awful lot of, so that the choice of Britain to stay in the EU and yet out of the euro zone was, I thought, the most sensible action that could be taken.”
Brexit will put pressure on global growth: IMF deputy MD
Brexit creates huge political uncertainty and will put pressure on global growth, the International Monetary Fund (IMF)'s Deputy Managing Director Zhu Min said on Tuesday.
Zhu made the comment at the World Economic Forum in Tianjin in northern China.
U.S. to keep pushing TTIP talks with EU despite Brexit
The United States will continue to talk with the European Union (EU) on the Transatlantic Trade Investment Partnership (TTIP) agreement, despite Britain's vote to leave the EU.
The agreement to get a TTIP has now been affected in light of the decision by the British people over the weekend, said Eric Schultz, White House principal deputy press secretary at a briefing on Monday.
"If we have to start negotiating separately with the United Kingdom, that's going to start from a different vantage point," Schultz said.
Oil prices rise on looming Norway strike, but Brexit still weighs
Oil prices rose in early trading in Asia on Tuesday as a looming strike in Norway threatened to cut output in western Europe's biggest producer, although Britain's vote to leave the European Union was still weighing on markets.
About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from the North Sea's top producer, if a new wage deal is not agreed before a Friday deadline.
A final round of mandatory talks will be hosted by a state mediator on June 30 and July 1 in an effort to avoid disruption that could start the following day.
The affected fields account for nearly 18 percent of Norway's oil output and a little more than 17 percent of its natural gas, Reuters calculations show.
Combined oil output was about 285,000 barrels per day in the first four months of the year, with natural gas output at 48.5 million cubic meters (mcm) per day.
Reference: ShanghaiDaily,Bloomberg,
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