World News

Markets are concerned EU no longer governable after Brexit - Merkel

German Chancellor Angela Merkel gives a statement in Berlin, Germany, June 24, 2016, after Britain voted to leave the European Union in the EU BREXIT referendum. REUTERS/Hannibal Hanschke

BERLIN (Reuters) - International financial markets are very concerned that the European Union is no longer governable after Britain voted to leave the bloc, Chancellor Angela Merkel told her conservative party’s board on Monday, two participants in a call said.

Merkel said it was necessary to prevent other countries from following Britain’s exit path, said the two sources who took part in a telephone conference of the board of the Christian Democratic Union (CDU).

Merkel added it was not the right time to pursue a quick deepening of cooperation between euro zone member states. The EU should instead act on popular concerns such as securing the bloc’s borders, creating jobs and improve internal security.

Reporting by Andreas Rinke; Writing by Joseph Nasr; Editing by Michelle Martin