• Home
  • Contact Us!
  • Privacy Policy

Radio Metta

  • Home
  • Business
  • Education
  • Health
  • Home Deco
  • News
  • Real Estate
  • Technology
  • Contact Us!
  • Privacy Policy
Home» Business»BHP CEO Mackenzie says Brexit would lead to lost decade of damaging uncertainty

BHP CEO Mackenzie says Brexit would lead to lost decade of damaging uncertainty

Saheli 18 Apr 2016 Business Comments Off on BHP CEO Mackenzie says Brexit would lead to lost decade of damaging uncertainty 299 Views

Andrew Mackenzie, CEO of BHP Billiton Ltd, speaks at the annual IHS CERAWeek conference in Houston, Texas March 4, 2014.  REUTERS/Rick Wilking

BHP Billiton  Chief Executive Andrew Mackenzie said on Monday that businesses could face a decade of damaging uncertainty if Britain voted to leave the European Union in a June 23 referendum.

Mackenzie, boss of the world’s biggest mining company, said a vote for Brexit would inflict a serious blow on the EU and that Britain would lose economic, political and diplomatic clout by leaving the club it joined in 1973.

Unpicking EU trade deals and replacing them with British deals could usher in a decade of complicated negotiations that would end in a less favorable deal for Britain, he said.

“On trade, the EU has negotiated broadly effective deals for Europe and the UK. Restoring these agreements after Brexit would take years, perhaps a decade, of negotiation,” Mackenzie will say in a speech in London on Monday.

Mackenzie, who was born in Scotland and studied for his doctorate in France and Germany, said such a lengthy negotiation would be “a time-consuming distraction to maintain market access we have today on terms that are likely to be worse.”

“By leaving, the UK would stop being rule makers and become rule takers,” said Mackenzie, who was appointed CEO of BHP on May 10, 2013.

BHP, headquartered in Melbourne, Australia and listed in both Australia and Britain, is one of the world’s top producers of iron ore, metallurgical coal, copper and uranium, and has substantial interests in conventional and unconventional oil and gas and energy coal.

Pro-Europeans warn an exit from the EU would hurt Britain’s economy and could trigger the break-up of the United Kingdom by prompting another Scottish independence vote.

Opponents of EU membership say Britain would prosper outside the bloc that they say hits far below its economic weight on the global stage.

A British exit would shake the Union to its core, ripping away its second largest economy and one of its top two military powers.

“Brexit would inflict a blow on the EU that it can hardly afford given the euro zone and migration crises. Without the UK, the EU would be weaker,” Mackenzie said.

“British business cannot afford a knock and global leaders are amazed that the UK would even consider leaving,” he said.

Both U.S. President Barack Obama and Chinese President Xi Jinping have urged Britain to stay, but British voters – and Cameron’s ruling Conservative Party – are split on membership.

Polls suggest that about a fifth of voters are undecided.

“The in and out campaigns are really about unilateralism versus internationalism. Most businesses support the EU and internationalism,” said Mackenzie.

“For Britain to wield the economic political and diplomatic capital it has historically enjoyed, we must vote to Remain.”

[Source:- Reuters]

BHP Brexit CEO damaging decade lead lost Mackenzie of says to Uncertainty would 2016-04-18
Tags BHP Brexit CEO damaging decade lead lost Mackenzie of says to Uncertainty would
Facebook Twitter Stumble linkedin Pinterest More

Authors

Posted by : Saheli
Previous Article :

Delay motherhood to reduce career income losses, say researchers

Next Article :

“2 hostels for NE students in JNU, Delhi varsity soon”

Related Articles

Step up: Tips for organizations from the FTC’s settlement with Genshin Effect designer HoYoverse

Step up: Tips for organizations from the FTC’s settlement with Genshin Effect designer HoYoverse

admin 07 Feb 2025
The main 3 showcasing challenges for independent companies (and how mechanization can tackle them)

The main 3 showcasing challenges for independent companies (and how mechanization can tackle them)

admin 24 Sep 2024
The most effective method to Begin a Blog (and Bring in Cash) in 6 Stages: Simple Fledgling’s Aide

The most effective method to Begin a Blog (and Bring in Cash) in 6 Stages: Simple Fledgling’s Aide

admin 19 Sep 2024

Latest Post

Cross-skilling: How to maintain government efficiency amidst change
Technology

Cross-skilling: How to maintain government efficiency amidst change

admin 21 May 2025
Our comprehensive list of 135 topics for real estate blogs
Real Estate

Our comprehensive list of 135 topics for real estate blogs

admin 13 May 2025
Why some houses sell more quickly than others
Real Estate

Why some houses sell more quickly than others

admin 07 May 2025
Get AI Ready — What IT Leaders Need to Know and Do
Technology

Get AI Ready — What IT Leaders Need to Know and Do

admin 22 Apr 2025
Job Prospects in Real Estate: Is Real Estate a Good Career Path?
Real Estate

Job Prospects in Real Estate: Is Real Estate a Good Career Path?

admin 12 Apr 2025

Creating Spaces: Decor for Every Room in Your Home

admin 05 Apr 2025
Tips for staying safe online and tracking scams
Technology

Tips for staying safe online and tracking scams

admin 01 Apr 2025
June 2025
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30  
« May    
  • Home
  • Contact Us!
  • Privacy Policy
Copyright 2016, All Rights Reserved
Magazine Blog News WordPress Theme