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French finance minister says Brexit 'disaster' for UK economy, impact on EU smaller

Reuters

PARIS (Reuters) - Britain's decision to leave the European Union is a disaster for its economy but will have less severe consequences on growth in other EU countries, French Finance Minister Michel Sapin said on Thursday.

Asked on Radio Classique whether a Brexit will have an impact on economic growth in other European countries, Sapin said it was "an economic catastrophe for Britain" and added:

"Yes, there will be consequences, first of all in Britain. And when a large economy like Britain's sees economic activity decline, this obviously has consequences on its neighbors."

"Will these consequences be considerable? I don't think so and it doesn't jeopardize our growth forecasts," Sapin added.

He also stuck to the government's 2017 deficit target of 2.7 percent. "This target is intangible," he said.

(Reporting by Michel Rose; Editing by Ingrid Melander)

 

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