Prime Minister David Cameron said it was in Britain&#39;s fundamental interest to remain very close to the European Union (EU) when it renegotiates a new relationship with the bloc it voted to leave in a referendum last month. 
 
Speaking to global aerospace executives at the Farnborough airshow today, Cameron said Britain must accept the reality of the vote and must make it work, including forging a new relationship with its European partners. 
 
&quot;The big strategic decisions are for the next prime minister but the groundwork is underway,&quot; he said. 
 
&quot;All I would say about the outcome is this: I believe it is in our fundamental national and economic interest to remain very close to the European Union, for trade, for business, for security, for cooperation. So let that be our goal.&quot; 
 
Cameron announced his resignation the day after his campaign to remain in the EU was defeated in the referendum. 
 
He said Britain had already had a taste of the turbulence in global markets and in term of the value of the pound that he had warned would follow a leave victory. 
 
&quot;There will be other problems ahead but I want to be clear: we will deal with them from a position of strength, with a growing economy, a greatly reduced deficit, lower inflation and more jobs and businesses than ever before in our country,&quot; he said. 
 
&quot;Above all though, we must recognise we are in a new reality now, we must accept it and we must make it work.&quot; 
 
He said Britain needed to &quot;think big and think radically&quot; to ensure the best outcome in the new circumstances, including a much bigger push on trade and investment targeting fast-growing economies like India and China. 
 
(Reuters)

Britain needs to "think big and think radically" to ensure the best outcome in the new circumstances, insists PM David Cameron

Prime Minister David Cameron said it was in Britain's fundamental interest to remain very close to the European Union (EU) when it renegotiates a new relationship with the bloc it voted to leave in a referendum last month. Speaking to global aerospace executives at the Farnborough airshow today, Cameron said Britain must accept the reality of the vote and must make it work, including forging a new relationship with its European partners. "The big strategic decisions are for the next prime minister but the groundwork is underway," he said. "All I would say about the outcome is this: I believe it is in our fundamental national and economic interest to remain very close to the European Union, for trade, for business, for security, for cooperation. So let that be our goal." Cameron announced his resignation the day after his campaign to remain in the EU was defeated in the referendum. He said Britain had already had a taste of the turbulence in global markets and in term of the value of the pound that he had warned would follow a leave victory. "There will be other problems ahead but I want to be clear: we will deal with them from a position of strength, with a growing economy, a greatly reduced deficit, lower inflation and more jobs and businesses than ever before in our country," he said. "Above all though, we must recognise we are in a new reality now, we must accept it and we must make it work." He said Britain needed to "think big and think radically" to ensure the best outcome in the new circumstances, including a much bigger push on trade and investment targeting fast-growing economies like India and China. (Reuters)

After divorce, Cameron says UK must stay close to EU

India&#39;s central bank governor on Friday reiterated his previous calls for central banks globally not to depreciate their currencies for competitive advantage and said it would be an issue he wanted to address with other central bankers. 
 
The comments came as part of an interview with CNBC TV 18 on the global fallout from Britain&#39;s vote to leave the European Union. 
 
Separately, Rajan issued a statement saying India&#39;s good economic fundamentals would allow it to overcome any &quot;sharp corrections&quot; in global markets. 
 
&quot;The Indian economy has good fundamentals, low short term external debt, and sizeable foreign reserves,&quot; Rajan said in the statement released on the Reserve Bank of India&#39;s (RBI) website. 
 
&quot;These should stand the country in good stead in the days to come.&quot; 
 
Rajan added the RBI is &quot;maintaining a close vigil&quot; on markets and will &quot;take all necessary steps,&quot; including infusing dollars or rupees to ensure orderly conditions in markets. 
 
(Reuters)

Indian central bank governor added that the country's good economic fundamentals would allow it to overcome any 'sharp corrections'

India's central bank governor on Friday reiterated his previous calls for central banks globally not to depreciate their currencies for competitive advantage and said it would be an issue he wanted to address with other central bankers. The comments came as part of an interview with CNBC TV 18 on the global fallout from Britain's vote to leave the European Union. Separately, Rajan issued a statement saying India's good economic fundamentals would allow it to overcome any "sharp corrections" in global markets. "The Indian economy has good fundamentals, low short term external debt, and sizeable foreign reserves," Rajan said in the statement released on the Reserve Bank of India's (RBI) website. "These should stand the country in good stead in the days to come." Rajan added the RBI is "maintaining a close vigil" on markets and will "take all necessary steps," including infusing dollars or rupees to ensure orderly conditions in markets. (Reuters)

Raghuram Rajan: Not the time for central banks to devalue currencies

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