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BlackRock CEO Larry Fink Talks Brexit Fears

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BlackRock CEO Larry Fink Talks Brexit Fears

Larry Fink is the CEO of BlackRock, Inc. (NYSE: BLK), the world's largest investment management companies with trillions of dollars of assets under management across the world.

Fink was a guest on CNBC Monday to discuss various issues facing the market, including the upcoming Brexit vote in which Britain's citizens will decide the fate of the country's status within the greater European Union.

Fink stated he previously believed Britain's exit from the European Union will be the ultimate outcome in the vote.

Fink said a "no" vote to leave the European Union would represent a victory to the ruling government as the Prime Minister David Cameron lobbied intensely to remain within the European Union.

Related Link: London's Tech Sector Thinks Brexit Will Be A Disaster

Fink continued that even if Britain remains in the European Union, there will still be a lot of "anger" from the British people who want lawmakers in London, not Brussels, to decide the country's outlook, especially in terms of economics.

Fink acknowledged that a growing population in Britain are concerned over a lack of job growth, quality of jobs available, cost of living, retirement and various other aspects of life.

To tackle the problem, he suggested the government should implement an expansion of its fiscal policy to address the concerns after the vote.

"I think this fear is real in every major democracy and I believe the Cameron government will be the first government that is going to need to focus on this and I do believe how they should be focusing on it is a very expansionary government."

Posted-In: Asset Managers Blackrock Brexit CNBC David CameronEurozone Markets Media Best of Benzinga

 

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