G20 describes UK’s possible withdrawal from EU as shock for global economy

The finance ministers of the leading world countries have warned of the 'shock' that the global economy will experience if the UK will withdraw from the EU, a statement released at the end of a two-day meeting of G20 nations in China says.

"The financial leaders of the world's biggest countries have given their unanimous verdict and they say that a British exit from the EU would be a shock to the world economy," the Chancellor of the Exchequer George Osborne said. "This isn't some adventurous journey into the unknown... This is deadly serious," BBC cited him as saying.

The minister pointed out that London didn't put pressure on other countries. "We've got countries around the table like the United States, like the IMF, like China who frankly don't do what anyone tells them to do," RBC cited him as saying.

This position was confirmed by the Minister of Economy and Finance of Italy, Pier Carlo Padoan. "We would classify a UK exit from the EU as a powerful geopolitical shock, a negative shock," he said during the meeting in Shanghai.