OECD chief: Brexit is ‘bad from every single angle’ – UpFront

As Britons decide whether to stay or leave the European Union, those outside of the UK are asking what a potential “Brexit” would mean not only for the UK, but also the global economy.

The Organisation for Economic Cooperation and Development has warned of the consequences of a potential British departure from the EU, saying the UK economy would suffer a “major negative shock”, resulting in an “economic fallout” for other countries within the OECD.

In this week’s Headliner, recorded before the tragic death of Joi Cox, Mehdi Hasan speaks to OECD Secretary-General Angel Gurria about what a potential “Brexit” would mean for the world economy.

“Frankly, it’s bad from every single angle,” Gurria says, “Everybody’s looking at it from different angles and the one common thread is it’s negative, it’s negative, it’s negative, it’s negative.”

Gurria also believes that a Brexit would have a “knock-on effect in Europe and in the world”.

The OECD secretary-general also discusses inequality and a new economic survey on the US economy.

“The US is moving along, it should stay the course, but that it has a number of very important challenges, mostly having to do with productivity,” Gurria says.

Editor’s note: This interview was recorded prior to the tragic killing of British opposition MP Jo Cox.

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