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EU leaders tell Britain to exit swiftly, market rout halts

Firms have announced hiring freezes and possible job cuts, dashing voters' hopes the economy would thrive outside EU


Reuters  |  London/Brussels 

European leaders told Britain on Tuesday to act quickly to resolve the political and economic chaos unleashed by its vote to leave the European Union, a move the International Monetary Fund(IMF) said could put pressure on global growth. Financial markets recovered slightly after the result of Thursday's referendum wiped a record $3 trillion off global shares and sterling fell to its lowest level in 31 years against the dollar, but trading was volatile and policymakers said they would take all necessary measures to protect their economies. British Finance Minister George Osborne, whose ...

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First Published: Wed, June 29 2016. 00:35 IST