An European Union flag flutters outside the European Commission headquarters in Brussels, Belgium, June
"There are so many things we can do together. Leaving now doesn't make any sense," says Donald Tusk, European Council President. In Picture: An European Union flag flutters outside the European Commission headquarters in Brussels, Belgium, June.Reuters File

As Britain prepares for the much-anticipated referendum on June 23 to decide whether to stay with the European Union (EU) or leave it, governments and global institutions have been expressing their views on the vote's outcome and its spillover effects. Though not exhaustive, the concerns range from financial instability, trade relations, political implications in the EU and individual member nations, among others. Here are a few of them.

Emmanuel Macron, the French minister of economy, finance and industry, reportedly told the Le Monde newspaper that Britain would be "a little country on the world scale [that] would isolate itself... at Europe's border," as reported by the BBC.

He also added, according to the report, that the EU should send a strong message to Britain conveying the consequences of leaving the 28-member bloc.

In another interview to RTL Radio, the minister allegedly said that Denmark, the Netherlands or Poland would not be allowed to raise a similar demand on their status.

In the European Commission's (EC) headquarters in Brussels, the air is filled with nervous anticipation.

A senior EU banking official told the Telegraph that there could be a possibility of Euro coming under greater pressure than Britain's pound sterling.

Polish European Council President Donald Tusk sounded more optimistic on the prospects of Britain remaining in the EU.

"Many of the British ideas about the EU are gaining support all over Europe. There are so many things we can do together. Leaving now doesn't make any sense," he said. 

Luxembourg's Foreign Minister Jean Asselborn did not sound so hopeful about Britain's exit (Brexit) outcome.

He allegedly told a German newspaper that Brexit will likely trigger a domino effect from other states in Eastern Europe, reported Reuters.

"It cannot be ruled out that Brexit leads to a domino effect in Eastern Europe," Asselborn told Tagesspiegel am Sonntag.

He added that the call for a referendum on whether Britain will continue as an EU member itself was a "historic mistake." Asselborn said the negative attitude of "Britain towards the EU" will remain a problem even if the country votes against Brexit.

Antoni Macierewicz, Polish defence minister, on the other hand worries Brexit could change the situation for Poland as he observed that the EU might impose stricter rules on other countries of the group should Britain exit.

"Poland wants to be a member of the EU. However, we do not want to create a single state that would impose its rules upon all European Union citizens. That is why I am afraid Brexit will change the situation and make it more difficult for us," he told the Telegraph.

Jozef Makuch, council member of European Central Bank (ECB), warned that Brexit could trigger financial and political instability aside from slowing down the pace of integration in the union, reported Reuters.

Financial market instability was the biggest worry, but Makuch assured that the the ECB will use tools at hand to ease market volatility. He also said the referendum could embolden "eurosceptics" in other countries, causing political instability at the local level.

A British exit from the EU will create a lack of trust and would be a "poison" for the rest of the Europe, Anton Boerner, head of Germany's BGA Trade Federation, told Reuters.

He warned that Brexit could result in higher trade tariffs, new rules of access in EU market and more bureaucracy for companies.

The report cites DIW — or German Institute for Economic Research — a non-profit research institute's warning that Brexit could weaken German exports which, in turn, will offset Europe's biggest economy's growth by one percent.

The report points out that in the worst case scenario, Germany's long-term growth is estimated to decrease by three percent, according to Institute of Economic Research, a Munich-based think tank.

Scotland, on the other hand, had more pragmatic concern regarding Britain leaving the EU. The country had already received funds from the ECB to the tune of £2 million. Another corpus of about £1 million is expected under EU's Horizon 2020 programme, reports the Scotsman.

In a letter signed by as many as 1,300 scientists, the research community expressed concern that a Brexit could jeopardise several research projects across areas from agriculture, forestry to space technology.

Ukraine also expressed concern than Britain opting to exit the EU would weaken the union's stature to maintain the sanctions against Moscow after annexing Crimea, said the Telegraph report.

"It's a paradox - you've always been the most supportive, and now you want to leave," the report quoted a Ukrainian diplomat as saying.

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