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<\/a><\/p>\n<\/a><\/p>\nLord Rothschild has urged the British public to steer clear of a Brexit vote and remain part of the European Union, in a threatening open letter for\u00a0The Times<\/span><\/span><\/a>.\u00a0<\/strong><\/h5>\n
Rothschild says in his letter that the UK public should not \u201crisk the wellbeing of our country\u201d, pointing out that European countries are \u201cbetter off together\u201d.<\/h5>\n
Investmentweek.co.uk<\/span><\/strong><\/span><\/a> reports:<\/h5>\n
Rothschild, who chairs the RIT Capital Partners investment trust, refers to his family businesses which originated with five brothers setting up the \u201cfirst truly international banking system,\u201d operating from London, Paris, Vienna, Naples and Frankfurt at the end of the 18th century.<\/h5>\n
He said: \u201cThe brothers, working together to exchange information and ideas, built an extraordinary business that operated across boundaries and cultures.<\/h5>\n
\u201c150 years later, the foundation of the EEC operated on similar principles, namely that we are stronger and better off together.\u201d<\/h5>\n
Rothschild also alludes to a number of major independent institutions, including the IMF, OECD and the Bank of England, all of which have warned against leaving the EU as it would cause the UK economy to suffer.<\/h5>\n
The OECD have said UK GDP could fall more than 3% in the case of a Brexit and believes the UK\u2019s \u201ceconomic dynamism and productivity\u201d would suffer.<\/h5>\n
Commenting on political and foreign policy, Rothschild said we live in a time when \u201cinternational order based on co-operation is crucial to prosperity and security\u201d.<\/h5>\n
He added: \u201cAt present we enjoy being a permanent member of the UN security council and we are essential to the G8 and Commonwealth. But diplomacy, defence, the environment and our values of being a liberal democracy will all be at risk.\u201d<\/h5>\n
He also pointed out that a vote to leave the EU would increase the risk of Scotland calling for another referendum<\/a><\/strong><\/span> and the future of the UK as a coherent entity will be at stake.<\/h5>\n
\u201cI can see no good reason why we should accept our playing a diminished role on the world stage,\u201d he said.<\/h5>\n