SINGAPORE, June 24 — The UK vote to leave the European Union (EU) is “a turning point” reflecting the anxieties of the British population, and the next few years will be uncertain ones for Britain and Europe, said Prime Minister Lee Hsien Loong, adding that Singapore will need to watch developments “carefully”.
In a Facebook post today, hours after the results of the Brexit referendum, Lee said other developed countries also face similar challenges as Britain, where citizens are concerned about immigration and want to assert identity and sovereignty, amid a globalising world.
“The desire to disengage, to be less constrained by one’s partners, to be free to do things entirely as one chooses, is entirely understandable. And yet in reality for many countries disengaging and turning inwards will likely lead to less security, less prosperity, and a dimmer future,” said Lee.
Noting that the outcome raises questions on how it would hurt investor confidence and the global economy, Singapore will “need to watch developments carefully”.
“Singapore will continue to cultivate our ties with Britain, which is a long standing friend and partner. We hope in time the uncertainty will diminish, and we will make the best of the new reality,” Lee said.
He added: “We wish Britain well. I wish David Cameron well too, who has been a good friend of Singapore and has announced his intention to resign as PM.”
In a separate Facebook post, Foreign Affairs Minister Dr Vivian Balakrishnan says “Brexit imposes even more volatility in an already uncertain world.”
Listing the ramifications and his questions as to what Britain will face, Defence Minister Ng Eng Hen said the most important lesson Singapore can take away from Brexit is that “change is inevitable and when it comes, it is the solidarity of a nation’s people with each other and their leaders that will pull them through”.
“Tomorrow will be a different world for UK people, and only unity and common purpose will lead them through safely and for a better future. Disunity and lack of strong leadership will blight their future, however they voted in the referendum,” he added.
National Development Minister Lawrence Wong said Singapore will always be subject to the “vagaries of the global market, and major forces beyond our control” as a small open economy.
“We will have to be prepared for the consequences of the decision taken today,” he said. “For us in Singapore, it’s yet another reminder that we must continue to stay alert and nimble; to continually adapt and innovate; to survive and thrive in an uncertain world.”
When the Brexit was agonisingly close at 11.57am, Singapore’s Ambassador at Large Bilahari Kausikan reacted and said: “The Brits are committing suicide before our eyes!”
When the results became official, Kausikan said Britain will be “a much diminished (nation)”, adding that, with it leaving the EU, it is “divided and certainly on a faster downwards trajectory”. — TODAY
