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80% chance of UK leaving EU, country likely to go for ‘soft’ Brexit: David Cameron in Kolkata

“The important thing is that the British government does not like any kind of economic dislocation. Although there will be no big economic impact for leaving the EU, the UK may opt for a soft Brexit by staying close to it,” Cameron said.

Edited by: India TV Business Desk, Kolkata [ Published on: July 19, 2018 17:01 IST ]
Image Source : AP

David Cameron

Former British prime minister David Cameron on Thursday said that there was 80% chance of the United Kingdom (UK) leaving the European Union (EU).

However, he added that Britain is likely to go for a “soft” Brexit by staying close to the European Union and having proper trading arrangements with member-states of the economic grouping. 

“The important thing is that the British government does not like any kind of economic dislocation. Although there will be no big economic impact for leaving the EU, the UK may opt for a soft Brexit by staying close to it,” Cameron said at an interactive session at the AGM of the Indian Chamber of Commerce in Kolkata. 

Cameron, the Conservative Party leader who was prime minister from 2010 to 2016, had to demit office after the UK voted to leave the EU in a historic referendum in June 2016. 

He was in favour of the UK remaining with the EU. 

Cameron said Brexit was now “poisoning” British politics, apparently referring to Boris Johnson’s resignation as foreign secretary saying he could not support Prime Minister Theresa May’s EU blueprint. 

“After the UK joined the EU, there had been treaties after treaties and a series of changes. It almost became a political union,” Cameron said.

 
“We regret the way the referendum had paved the way, which shouldn’t have been,” he added.

Cameron said it would have been better for the UK to stay with the EU and fight for its interests. 

“The whole of Britain was in a single currency. (The UK did not join the monetary union). The borders are the same. It was the emotional argument of sovereignty which trumped over the rational thinking of getting economic benefits,” he said. 

The UK is supposed to finally leave the EU in March next. 

(With IANS inputs)

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