President Obama, who urged British voters to stay in the European Union, warned against financial and global “hysteria” Tuesday after Britain’s vote to leave the EU.
In an interview aired on National Public Radio, Mr. Obama said full European integration may be on pause, but cataclysmic changes are unlikely.
“There’s been a little bit of hysteria post-Brexit vote, as if somehow NATO’s gone, the trans-Atlantic alliance is dissolving, and every country is rushing off to its own corner. That’s not what’s happening,” Mr. Obama said.
The vote has roiled international financial markets and prompted the resignation of British Prime Minister David Cameron. Obama administration officials have been scrambling to contain the political and economic fallout with their counterparts in Europe.
The president, who was criticized for meddling in Britain’s affairs in the spring when he called on British voters to remain with the EU, said voters were reacting to a EU that was growing too fast and “without as much consensus as it should have.”
“The best way to think about this is, a pause button has been pressed on the project of full European integration,” Mr. Obama said. “This will be a moment when all of Europe says, ’Let’s take a breath and let’s figure out how do we maintain some of our national identities, how do we preserve the benefits of integration and how do we deal with some of the frustrations that our own voters are feeling.’ “
Donald Trump, the presumptive Republican presidential nominee, said Mr. Obama miscalculated by interfering in Britain’s affairs and caused a backlash that may have contributed to the decision for the United Kingdom to leave the EU.
• Dave Boyer can be reached at dboyer@washingtontimes.com.
Please read our comment policy before commenting.