May 8, 2016 / 5:20 PM / a year ago

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

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

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.

“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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