Japanese Finance Minister Taro Aso said on Friday that some Group of Seven financial leaders had expressed support for a British exit from the European Union, a remark quickly retracted by his staff.

Aso, 75, told reporters in Sendai, northern Japan, where he is chairing a meeting of G7 finance ministers and central bankers, that some financial chiefs had said Brexit would be good.

A Japanese Finance Ministry official told reporters that Aso had misspoken.

"What the minister meant was that it would be good if Britain remained in the EU," the official told reporters shortly after Aso's news conference.

Britain holds a referendum in June on whether to leave the European Union.

While the global economy continues a moderate recovery, downside risks and uncertainty remain over the outlook, Aso said, citing Brexit among the risks.

A British exit could trigger volatility in global financial markets and raise questions about Britain's $2.9 trillion economy.

The G7 groups the United States, Japan, Britain, Canada, Germany, Italy and France. The finance leaders are meeting to discuss ways to prop up global growth in the run-up to a G7 summit in Ise-Shima on May 26-27. (Reuters)

Source: www.businessworld.ie