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Obama discusses Brexit with Cameron and Merkel - White House

Obama discusses Brexit with Cameron and Merkel - White House

Rob Portman, R-Ohio. "That won't change because of" the vote, adding "for the sake of continued stability and security, American leadership is needed now more than ever before".

President Barack Obama today said that the U.S. respects the decision of British people to exit from the European Union and hoped that the United Kingdom and EU will remain "indispensable partners" of America.

During an April visit to the United Kingdom, Obama spoke out against the Brexit referendum and warned that it could affect economic relations with the U.S.

The reassurance could not paper over what was clearly a blow to the president, who in one night saw his calls for unity rejected and his legacy in Europe reshaped.

The United Kingdom's historic vote to leave the European Union, has reverberated around the world.

The impact of the vote was felt far beyond London and Brussels on Friday. "At this decisive moment in the U.K.'s modern history the USA must make it clear - unequivocally - that we can be counted on to stand with and support our closest allies".

Lew said he had been consulting for weeks with finance officials and investment firms. "The UK and other policy makers have the tools necessary to support financial stability, which is key to economic growth".

But in making his case against the split, Obama had described some stark outcomes.

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During a joint news conference with Mr. Cameron in April, Mr. Obama made a forceful case for the United Kingdom remaining in the EU.

In a newspaper column and during a news conference with British Prime Minister David Cameron, Obama said that the United States would be more interested in doing trade deals with a "big bloc" like the European Union than a single nation like the United Kingdom.

"Based on our conversation, I'm confident that the committed to an orderly transition out of the EU", Mr. Obama said.

Obama's comments came in a written statement issued by the White House while the president was traveling in California.

Mr. Obama, in a written statement released early Friday morning, sought to calm rattled financial markets and blunt any economic anxiety by saying the "special relationship" between the USA and "enduring" and stressing the importance of the European Union for stability and the global economy.

So too is America's relationship with the European Union, which has done so much to promote stability, stimulate economic growth, and foster the spread of democratic values and ideals across the continent and beyond, he said.

- Speaker of the House Paul Ryan struck a similar tone, noting his "respect for the decision".

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