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MEP Pabriks: Brexit a lose-lose scenario

It would be to the detriment of both sides if the United Kingdom voted to leave the European Union in the June 23 referendum, MEP Artis Pabriks (Unity) told Latvian Television Monday morning.

According to Pabriks, the losses would be both economical and geopolitical. He said that the West as a whole would be done a disservice should the UK leave.

The MEP said that if the UK chooses to leave, it will lose influence on the world stage. 

He said that the EU's budget will be reviewed should Britain, a great contributor, not remain in the EU. This would decrease EU funding to Latvia.

Pabriks also warned that new administrative barriers would appear, affecting all those who want to do commerce and travel.

"It would weaken us," he summarized, claiming that any shocks to the EU would harm Latvia's "existential interests" as well. 

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