Former ECB chief: Brexit 'losses are gigantic'

The former president of the European Central Bank, Jean-Claude Trichet, has defended Bank of England Governor Mark Carney's intervention in the Brexit debate last week, when he warned that a vote to leave could cause a recession.

Speaking to Emily Maitlis on This Week's World, Mr Trichet said that the losses for the UK if it were to leave the EU would be "gigantic".

Those behind the campaign for the UK to leave the European Union said Mr Carney had breached his obligations on impartiality by emphasising only the risks of Brexit.

Leave campaigner Iain Duncan Smith told the BBC he "wouldn't expect" a major financial institution to back the Leave campaign "because they all wanted to protect the status quo".

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