NEWS

James O'Brien Tackles Brexit Campaigners Who Derided Mark Carney After EU Referendum Results Hit FTSE

'This was the moment to really stop and wonder what the hell we've done.'

24/06/2016 14:46

James O'Brien has launched a storming attack on people who voted in favour of Brexit for asking the Bank of England to steer the country through economic turmoil, despite ignoring warnings over a Leave vote from the bank's governor.

The LBC presenter bemoaned those who backed 'Leave' on Thursday seeking advice and stability from Mark Carney, following claims from leading Brexit figures he was "biased", untrustworthy and should resign.

Carney had warned that the UK voting to leave the EU would cause an economic shock; within hours of the historic vote, the pound had fallen to its lowest value in 31 years.

But speaking on Friday, O'Brien lamented: "You listen to Mark Carney, who some of us listened to last week - and last month, and the month before - and found him very persuasive.

AP
Carney previously warned Brexit would have hugely negative ramifications to the economy

"How do you square that today if you're one of the people who has been persuaded that we should completely ignore the insights or inputs of the Bank of England - because his words this morning have been really reassuring. 

"He is one of the few people seriously to try and set a course through these stormy waters."

Carney and many other "experts" had been criticised by Brexiteer and justice secretary Michael Gove for offering their opinion and advice too much.

ASSOCIATED PRESS
Michael Gove claimed people had 'had enough of experts'

Continuing on Friday, O'Brien said the watershed moment in the referendum campaign came this morning when Carney warned Brexit posed “the most significant near-term risk” to the economy.

The LBC radio host explained: "The man who will probably be Prime Minister by Christmas has spent the last eight weeks telling us to disregard the insights and the expertise of men like Mark Carney.

"That for me would be a moment to really stop and wonder what the hell we've done because who do we turn to now for economic guidance and economic advice?

LBC
O'Brien wondered who Brexiters would turn to to steer them through Brexit's volatile effect on the economy after rubbishing Carney's advice in the campaign

"Who do we turn to for economic projections and economic policy? We turn to the governor of the Bank of England.

"But we live in a country where a referendum has just been won by people who told us that experts wren't to be trusted but also that the governor of the Bank of England was biased."

O'Brien repeated the line in a post on Twitter on Friday morning as the last ballots were counted and a 'Leave' win was officially confirmed. 

The country woke up this morning to news that Britain is no longer the fifth biggest economy in the world. The country had fallen behind France after huge currency depreciation following a Brexit win. 

The dramatic result wiped £122 billion of the value of the FTSE 100 within minutes - it dropped to 5,788.74 just after opening, a dramatic fall of more than 8%.

The pound has plummeted to a low not seen since 1985.

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