May 8, 2016 / 5:20 PM / 2 years ago

Brexit would be 'lose-lose' for UK and EU: Moscovici

PARIS (Reuters) - Britain leaving the European Union would amount to a “lose-lose” situation, European Economic and Monetary Affairs Commissioner Pierre Moscovici said on Sunday.

A banner encouraging people to support a local Brexit campaign hangs on the side of a building in Altrincham, Britain May 3, 2016. REUTERS/Phil Noble

“I wish passionately for Great Britain to remain in the European Union,” Moscovici said on BFM TV. “I think it would be lose-lose, a loss for them and a loss for us, if Britain left.”

British Finance Minister George Osborne said earlier on Sunday that homeowners would face a “significant hit” from lower house prices and higher mortgage costs if voters decided to leave the EU in a referendum planned for June 23.

Reporting by James Regan and Chine Labbe; Editing by Angus MacSwan

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