Statement by Christine Lagarde on the U.K. Referendum
IMF News, June 24, 2016
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- Published: June 24, 2016
Key messages from Ms. Christine Lagarde
- "We take note of the decision by the people of the United Kingdom."
- "We urge the authorities in the U.K. and Europe to work collaboratively to ensure a smooth transition to a new economic relationship between the U.K. and the EU, including by clarifying the procedures and broad objectives that will guide the process."
- "We strongly support commitments of the Bank of England and the ECB to supply liquidity to the banking system and curtail excess financial volatility."
- "We will continue to monitor developments closely and stand ready to support our members as needed."
Policy recommendations and actions
- Urge collaborative work between U.K. and European authorities to:
- Ensure a smooth transition to a new economic relationship between the U.K. and the EU.
- Clarify the procedures and broad objectives that will guide the transition process.
- Support central bank measures to:
- Supply liquidity to the banking system (as committed by the Bank of England and the ECB).
- Curtail excess financial volatility.
- IMF stance:
- Continue close monitoring of developments.
- Stand ready to support IMF members as needed.
Statement by Christine Lagarde on the U.K. Referendum — Press Release No. 16/303, June 24, 2016.