Sir Martin Sorrell: Brexit referendum would be ‘very damaging for UK economy’

Sir Martin Sorrell is concerned about the outcome of the British general election. Sorrell, the CEO of WPP, the world's largest advertising company, believes that holding a referendum on leaving the EU would threaten growth in the country. "I can't see foreign companies investing in the UK knowing there is a possibility that we will exit the EU", he told FRANCE 24's Markus Karlsson in Davos. Whether or not the referendum takes place depends on the result of the election.

Sorrell also commented on the European Central Bank's decision to embark on a massive quantitative easing (QE) scheme. He welcomed the move but underlined his view that "structural reform is what's needed" for Europe. “QE helps, certainly in the short to medium term, but all it does is paper over the cracks; it avoids dealing with the fundamental issues", he explained.

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