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13 Jun, 2016 16:31

Our Daily Brexit: ‘UK leaving EU could spell end of Western political civilisation’, EC chief

Our Daily Brexit: ‘UK leaving EU could spell end of Western political civilisation’, EC chief

Western political civilisation itself is under threat if Britain votes to leave the EU, European Council President Donald Tusk said in an unprecedented warning. RT looks at the latest in the referendum race.

Tusk, a politician and historian, issued the most serious caution yet over the future implications of Brexit in an interview with the German newspaper Bild.

The former Polish Prime Minister said radical anti-European groups would be “drinking champagne” if the British public votes to leave the bloc.

Why is it so dangerous? Because no one can foresee what the long-term consequences would be," Tusk said.

"As a historian I fear that Brexit could be the beginning of the destruction of not only the EU but also of western political civilization in its entirety.”

Leave group claims Brexit will prevent ‘Orlando-style atrocity’

Brexiteers have been accused of using Sunday’s gun massacre in Orlando, Florida for political advantage after sending a ‘despicably’ insensitive tweet suggesting that staying in the EU could lead to a similar atrocity.

The cross-party campaign group Twitter account tweeted a picture of ISIS militants along with the caption: “Islamist extremism is a real threat to our way of life. Act now before we see an Orlando-style atrocity here before too long.”

It came with the text: “The free movement of Kalashnikovs in Europe helps terrorists.

Fellow Leave campaigner Boris Johnson was quick to accuse the group of making “political capital out of an appalling tragedy.”

British stocks might benefit from Brexit

Deutsche Bank predicts the British stock market could actually benefit from Brexit, as a drop in the value of the pound would give a boost to UK exports.

Although the bank forecasts a 5 percent fall in the FTSE100, this dip will still be outperforming the German DAX which will fall as much as 10 percent in the event of Brexit.

The relatively stronger stock market, which Deutsche Bank says is heavily reliant on companies exporting their goods, will then take advantage of the weaker pound.

Conversely, it’s predicted a vote to remain in the EU will see stock markets across Europe go up by about 5 percent, with UK equities also gaining.

‘In is in. Out is out.’

German Finance Minister Wolfang Schäuble said that in the event of a Brexit, there is no chance of Britain securing access to the EU single market in the same way Switzerland and Norway have.

Asked by Der Spiegel magazine if Britain could have access, he said, “That won't work. It would require the country to abide by the rules of a club from which it currently wants to withdraw. If the majority in Britain opts for Brexit, that would be a decision against the single market. In is in. Out is out.”

One has to respect the sovereignty of the British people,” he added.

This is not the first time Schäuble has issued threats to EU member states. Former US Treasury Secretary Tim Geithner accused the Finance Minister of trying to force Greece out of the single currency in 2015, in a bid to scare other countries into toeing the line.