Why Americans should care about Brexit

The president's former chief economic adviser defended Mr Obama's decision to weigh in on Brexit so forcefully.

It's a bit like when your sister goes out with a bad date, Austan Goolsbee told me, you just have to say something.

Truth is though, most Americans are not very focused on the June 23rd vote on whether Britain should stay in or leave the EU.

They should be, Mr Goolsbee argued because there are knock on economic consequences.

Anything that adds uncertainty to the global financial system poses a risk and Brexit, he says, does that because we don't know what the impact will be on British and European banks' ability to operate across continental borders.