• 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 22 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

The big climate circus is in town: What to expect at COP26 in Glasgow

Loknath Das 13 Jan 2022

Covishield will be administered at 75 hospitals, COVAXIN at 6

Loknath Das 12 Jan 2022

What Is the Purpose of a Business Blog?

Loknath Das 16 Dec 2021

Latest Post

News

Your SEO Budget Is Determining Your Success

admin 03 Sep 2022
News

WAN Connection Method – Frame Relay

admin 26 Aug 2022
Education

GESS Proudly Supports and Sponsors UAE Based Team in Global STEM Challenge

Loknath Das 28 Jul 2022
Technology

The Samsung Galaxy Z Flip4 gets FCC certification

Loknath Das 22 Jul 2022
Education

USF faculty, students to present at 2022 American Educational Research Association Annual Meeting

Loknath Das 22 Jul 2022
Technology

“Critical” We Understand Digital Money’s Impact: US Policymaker

Loknath Das 07 Jun 2022
Health

Firefly Health Taps Oshi Health to Add Whole-Person Digestive Care to Its Virtual Specialty Network

Loknath Das 06 Jun 2022
September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Sep    
  • Home
  • Contact Us!
  • Privacy Policy
Copyright 2016, All Rights Reserved
Magazine Blog News WordPress Theme