Author Thomas Harding is in the process of doing what the descendants of many Holocaust victims would find unimaginable: applying for a German passport.

When Britain voted to leave the European Union in June, the 48-year-old had to make a decision that was never necessary before the referendum - should he request the restoration of German citizenship stripped from his family by the Third Reich? He needed only a few hours to make up his mind.

“This is more than the practical, this is also about something for us, or for me, it's about something spiritual, it's about reconciliation,’’ he said. “It's about acknowledging the truth of the horrors of the past but also about trying to build a better future together, and as a European, that's what I hope to do."

It is one of the complicated realities of the UK’s pending divorce from the EU that many Britons whose ancestors came from other parts of Europe are claiming citizenship in other member states so they can retain ties to the Continent. Inquiries about passports are up at the German, Austrian, French and Polish embassies.

Some want to retain the ability to travel easily from country to country or maintain business ties. Others just want to be part of the European Union.

But for Jews whose families fled Germany to escape Adolf Hitler, the decision means re-examining long-held beliefs about history and the country that once persecuted them.

The children and grandchildren of Jewish refugees are taking advantage of a law that allows the descendants of people persecuted by the Nazis to regain the citizenship that was stripped from them in the 1930s and 1940s. More than 400 Britons have sought information about the law since the June 23 referendum, and German authorities have received at least 100 formal applications, compared with about 20 annually in recent years.

Michael Newman, chief executive of the Association of Jewish Refugees, said Brexit has fuelled interest in German citizenship, but it’s hard to know how many people will actually apply. Jews are now able to consider such a step because Germany has made huge strides in addressing the past, creating a culture of remembrance, he said.

“No amount of blood money or memorials will satisfy or suffice for some people but in terms of addressing its past and owning up to it and looking into things, it's done much that many other countries haven't,’’ said Newman.

Many of those seeking restoration of their citizenship don’t intend to live in Germany, but want the freedom to travel and work in EU nations.

Ben Lewis, a 49-year-old documentary filmmaker, is among those who would like to regain German citizenship.

Lewis, whose film and production company has worked for years on the continent, sees the potential of Brexit as an abomination, particularly the anti-immigrant sentiment that influenced many people to vote to leave.

“I just want to take a firm stance, a documented stance etched in acid on stone, that I object to Brexit," he said.

The decision for many might have been prompted by Brexit, but had been years in the making for some. Harding, for one, has long been coming to terms with his German past, a journey documented in part in his book, “The House by the Lake.’’

The way Harding sees it, Germany is now showing leadership by taking in over a million refugees.

As the result of the EU referendum became clear on the morning of June 24, Harding was on the phone to the German embassy to inquire about citizenship.

It’s logical, he says, for Jews to cling to the EU, which was created to build international links that would make another European war impossible.

“It was much less about saying goodbye to Britain than saying hello to Europe," he said.

London - 5 October 2016

1. Pan down from German and European Union flags to entrance of German Embassy in London

2. Various of flags

3. Mid of author Thomas Harding sitting on grass looking at passport that belonged to his German Jewish grandfather

4. Close of Harding's face

5. Various of passport

6. SOUNDBITE (English) Thomas Harding, author, in the process of applying for restoration of German passport following Brexit vote:

"This is more than the practical, this is also about something for us, or for me, it's about something spiritual, it's about reconciliation. It's about acknowledging the truth of the horrors of the past but also about trying to build a better future together, and as a European, that's what I hope to do."

7. Cutaway passport and photo of Harding's grandparents

8. SOUNDBITE (English) Thomas Harding, author, in the process of applying for restoration of German passport following Brexit vote:

"I think what has happened to me is I have become much more open towards Germany and at the same time following Brexit, I realised that there was going to be a very real loss. It was likely that me and my family would be unable to live and work in 27 countries in Europe and given the fact that I didn't have to give up my British passport, I didn't have to live in Germany by necessity or learn German, show I could speak German, it didn't seem like there was anything to lose and so for me, it was much less about saying goodbye to Britain than saying hello to Europe."

9. Harding flicking through passport

10. Mid of exhibit of Jewish Museum in London

11. Soft focus, yellow star that Jews were forced to wear in Nazi Germany

12. Set up of documentary maker Ben Lewis

13. Close of Lewis looking at museum exhibit

14. SOUNDBITE (English) Ben Lewis, documentary maker, in the process of applying for restoration of German passport following Brexit vote:

"Well, it was immediately after Brexit I thought the restoration of German citizenship was something that I wanted, because before Brexit I was part of the EU anyway. I was a European, I was deeply engaged in German culture from the age of 14 when I first started learning German, and in a way my whole life was orientated around creating links around rebuilding, if you like, as a Jew, links between myself, in Britain and German culture."

15. Cutaway hands

16. SOUNDBITE (English) Ben Lewis, documentary maker, in the process of applying for restoration of German passport following Brexit vote:

"I have many motivations for wanting to get German citizenship. I am thinking a lot about my child, I want him to have the same advantages in life that I had, you know, to be able to play on a European field. I've worked all over Europe in my life. I love Berlin - I could imagine living there. Perhaps that would happen in the future. And I just want to take a firm stance, a documented stance, something etched in acid on stone, that I object to Brexit."

17. Set up shot of Michael Newman, chief executive of the Association of Jewish Refugees

18. Newman typing

19. SOUNDBITE (English) Michael Newman, chief executive of the Association of Jewish Refugees:

"Well I think this is uppermost in the minds of the government that they are not going to walk away from any post Holocaust responsibilities and I think most people would look at what Germany has done since the Second World War in terms of addressing its past, the culture of remembrance, the educational resources, it's committed to teaching about the holocaust and see that what it has done has been leading the way and if you look at issues like restitution, archive, opening archives, documentation centres, even opening and creating museums, they are, they're leading the way in many respects in dealing with their history. It remains of course very subjective because no amount of blood, money or memorials will satisfy or suffice for some people but in terms of addressing its past and owning up to it and looking into things, it's done much that many other countries haven't."

20. Wide of German Embassy entrance for public

21. Close of entrance

22. Sign reading 'Welcome' in German and English

FOR CLEAN VERSION SEE STORY NUMBER: 4038463

LEAD IN:

UK wine industry experts are eyeing the upcoming vote on whether to leave the European Union with mixed feelings.

With producers and suppliers heavily reliant on pan-European trade, many remain unsure how Brexit will impact upon business.

STORY-LINE:

Sparkling wine on a summer's day in the English capital.

Glistening flutes and bottles in abundance, and a crowd of happy lunchtime drinkers add to the atmosphere of excitement and discovery, along with an impromptu game of ping pong.

It must be London Wine Week.

This is the third year of the festival, and this year is the most popular to date.

Festival director Emma Murphy says "It's the largest self-guided wine tasting that there is across London. It's kind of the only event of its kind that we have over here. So we work with 125 bars, restaurants, independent merchants who all get involved" .

But although these flutes of fizz are English sparkling wine, much of the wine the festival goers here are tasting is from EU member states such as France, Spain, Portugal, Italy and Germany.

The June 23 referendum on whether to quit the European Union is fast approaching. So is this something the industry should fear?

"I wouldn't have said so," says Murphy.

"Wine trade has been going for long enough, even long before the euro, so I wouldn't have thought that would make much difference to be honest with you. Hopefully not anyway."

At the festival hub on London's Devonshire Square, there are pop-up bars featuring wines from across Europe.

These two young graduate trainees are enjoying wines from Portugal, and with their festival wristband, it costs them just five British Pounds for a flight of three.

Oscar Stenbom and Anna Rogers both agree that things may well be different if Britain leaves the union.

"If it's more expensive for them to send the wine here, if there's more tariffs, then yeah I guess it would be," says Anna, while Oscar is concerned about regulation and labelling:

"It would also be more difficult to know what you are drinking because there won't be as many restrictions on labelling the wine based on where it's actually from and the grape it's actually come from."

The New Street wine shop has been taken over by the wine festival. They sell wines from all over the world but today they are holding a tasting featuring wines from Ribera del Duero in northern Spain.

Most wine drinkers know about the region of Rioja, but Bettina Lemm is informing these festival goers about the region she represents.

"I think they (wines of Ribera del Duero) are still an emerging market, especially in the UK. The UK is an important market for Ribera del Duero, it's the seventh-largest export market for Ribera del Duero but I think that we're still establishing ourselves."

But if the UK is an important export market, is Brexit going to throw the proverbial spanner into the works? Lemm doesn't seem too worried "I think at the moment we're pretty confident as we've seen year to year that exports have grown. I think that's going to continue and I don't think it's a worry that we have at the moment," she says.

Wine used to have a rather old fashioned reputation and a comparatively elderly demographic, but this has changed enormously in recent years.

The prevalence of wine clubs popping up in the UK is an indicator of wine's increasing popularity.

Tom Harrow of Honest Grapes explains why this is "I think this is because people want to engage more with what's in the bottle. It's not just liquid, they want to know the stories behind it, they want to meet the people involved. And there's the sociable aspect, you know wine is fundamentally something which we do with other people," he says.

With 125 venues across the metropolis taking part in this festival, there's plenty of opportunity to enjoy it with friends.

But with such enthusiasm for wine spreading across the country, June 23 could bring disruption, according to Harrow "It's fair to say that we're a bit concerned about the possibilities of Brexit, I think the rising price of the euro against the pound will have a serious effect on quality wine. At the moment more than 60 percent of wine that comes into the UK is shipped in massive great tankers and bottled over here and that's not something we get involved with. But that becomes the only affordable way if the pound plummets against the euro. So I think that it won't be a good thing initially for the wine consumer because the prices of these small artisan wines will go up" .

However, the future might be bright in other, unexpected ways.

"All the English wine makers that I speak to say we are half a degree away from being a perfect climate for sparkling wines at least," says Harrow, and with apologies to climate change icon Al Gore, he adds that "global warming is a good thing for the UK sparkling wine trade."

Reports by the WSTA (Wine and Spirit Trade Association) suggest there is still some way to go as the UK comes in at number six on the list of sales of sparkling wine by origin - but it's rising year on year.

600 million bottles of wine are bottled in the UK.

This makes the UK wine market the sixth largest in the world, generating 173 billion British pounds of economic activity, according to the WSTA. 10 billion British pounds are made through sales.

Also being showcased here is one of the new kids on the alcohol block, Regal Rogue Vermouth.

According to brand founder Mark Ward, vermouth, by definition, is 75 percent wine. It must have wormwood and it must have an ABV (alcohol by volume) of 15 to 24 percent. These three things have to be in place for a producer to put vermouth on the bottle or it flouts recent EU regulations.

Ward, who was brought up in hospitality, began the project in Australia where he worked closely with top Australian chefs who introduced him to indigenous herbs and spices.

"It seemed like a really obvious thing to do, marrying the herbs and spices with this abundance of Australian wine to create a New World style of vermouth. And you know the tradition of vermouth is really led by the European markets. You know, Italian, French, now Spanish - but now there are vermouths coming out of America, the UK, Germany and obviously Australia. So pretty much anywhere where you find wine now, you will find a vermouth of some sort." he says.

Ward is attempting to educate the wine drinking market which, he believes, is mostly unaware of the fact that vermouth is fundamentally a wine.

This can only be helped by a new pop up for 2016, the Vermouth Bar.

The parent company of London Wine Week is the aptly named "Drink Up London", and they're already preparing for the 2017 event - Brexit or no Brexit.

FOR CLEAN VERSION SEE STORY NUMBER: 4038463

LEAD IN:

UK wine industry experts are eyeing the upcoming vote on whether to leave the European Union with mixed feelings.

With producers and suppliers heavily reliant on pan-European trade, many remain unsure how Brexit will impact upon business.

STORY-LINE:

Sparkling wine on a summer's day in the English capital.

Glistening flutes and bottles in abundance, and a crowd of happy lunchtime drinkers add to the atmosphere of excitement and discovery, along with an impromptu game of ping pong.

It must be London Wine Week.

This is the third year of the festival, and this year is the most popular to date.

Festival director Emma Murphy says "It's the largest self-guided wine tasting that there is across London. It's kind of the only event of its kind that we have over here. So we work with 125 bars, restaurants, independent merchants who all get involved" .

But although these flutes of fizz are English sparkling wine, much of the wine the festival goers here are tasting is from EU member states such as France, Spain, Portugal, Italy and Germany.

The June 23 referendum on whether to quit the European Union is fast approaching. So is this something the industry should fear?

"I wouldn't have said so," says Murphy.

"Wine trade has been going for long enough, even long before the euro, so I wouldn't have thought that would make much difference to be honest with you. Hopefully not anyway."

At the festival hub on London's Devonshire Square, there are pop-up bars featuring wines from across Europe.

These two young graduate trainees are enjoying wines from Portugal, and with their festival wristband, it costs them just five British Pounds for a flight of three.

Oscar Stenbom and Anna Rogers both agree that things may well be different if Britain leaves the union.

"If it's more expensive for them to send the wine here, if there's more tariffs, then yeah I guess it would be," says Anna, while Oscar is concerned about regulation and labelling:

"It would also be more difficult to know what you are drinking because there won't be as many restrictions on labelling the wine based on where it's actually from and the grape it's actually come from."

The New Street wine shop has been taken over by the wine festival. They sell wines from all over the world but today they are holding a tasting featuring wines from Ribera del Duero in northern Spain.

Most wine drinkers know about the region of Rioja, but Bettina Lemm is informing these festival goers about the region she represents.

"I think they (wines of Ribera del Duero) are still an emerging market, especially in the UK. The UK is an important market for Ribera del Duero, it's the seventh-largest export market for Ribera del Duero but I think that we're still establishing ourselves."

But if the UK is an important export market, is Brexit going to throw the proverbial spanner into the works? Lemm doesn't seem too worried "I think at the moment we're pretty confident as we've seen year to year that exports have grown. I think that's going to continue and I don't think it's a worry that we have at the moment," she says.

Wine used to have a rather old fashioned reputation and a comparatively elderly demographic, but this has changed enormously in recent years.

The prevalence of wine clubs popping up in the UK is an indicator of wine's increasing popularity.

Tom Harrow of Honest Grapes explains why this is "I think this is because people want to engage more with what's in the bottle. It's not just liquid, they want to know the stories behind it, they want to meet the people involved. And there's the sociable aspect, you know wine is fundamentally something which we do with other people," he says.

With 125 venues across the metropolis taking part in this festival, there's plenty of opportunity to enjoy it with friends.

But with such enthusiasm for wine spreading across the country, June 23 could bring disruption, according to Harrow "It's fair to say that we're a bit concerned about the possibilities of Brexit, I think the rising price of the euro against the pound will have a serious effect on quality wine. At the moment more than 60 percent of wine that comes into the UK is shipped in massive great tankers and bottled over here and that's not something we get involved with. But that becomes the only affordable way if the pound plummets against the euro. So I think that it won't be a good thing initially for the wine consumer because the prices of these small artisan wines will go up" .

However, the future might be bright in other, unexpected ways.

"All the English wine makers that I speak to say we are half a degree away from being a perfect climate for sparkling wines at least," says Harrow, and with apologies to climate change icon Al Gore, he adds that "global warming is a good thing for the UK sparkling wine trade."

Reports by the WSTA (Wine and Spirit Trade Association) suggest there is still some way to go as the UK comes in at number six on the list of sales of sparkling wine by origin - but it's rising year on year.

600 million bottles of wine are bottled in the UK.

This makes the UK wine market the sixth largest in the world, generating 173 billion British pounds of economic activity, according to the WSTA. 10 billion British pounds are made through sales.

Also being showcased here is one of the new kids on the alcohol block, Regal Rogue Vermouth.

According to brand founder Mark Ward, vermouth, by definition, is 75 percent wine. It must have wormwood and it must have an ABV (alcohol by volume) of 15 to 24 percent. These three things have to be in place for a producer to put vermouth on the bottle or it flouts recent EU regulations.

Ward, who was brought up in hospitality, began the project in Australia where he worked closely with top Australian chefs who introduced him to indigenous herbs and spices.

"It seemed like a really obvious thing to do, marrying the herbs and spices with this abundance of Australian wine to create a New World style of vermouth. And you know the tradition of vermouth is really led by the European markets. You know, Italian, French, now Spanish - but now there are vermouths coming out of America, the UK, Germany and obviously Australia. So pretty much anywhere where you find wine now, you will find a vermouth of some sort." he says.

Ward is attempting to educate the wine drinking market which, he believes, is mostly unaware of the fact that vermouth is fundamentally a wine.

This can only be helped by a new pop up for 2016, the Vermouth Bar.

The parent company of London Wine Week is the aptly named "Drink Up London", and they're already preparing for the 2017 event - Brexit or no Brexit.

AP Television

London - 27 May 2016

1. Close of wine glasses

2. Bartender pouring sparkling wine

3. Tilt down on central courtyard at Devonshire Square, the hub for London Wine Week

4. Group of friends enjoying English sparkling wine

5. Men playing table tennis

6. Sign reading (English) "London Wine Week"

7. Set up shot of Emma Murphy, director of London Wine Week

8. SOUNDBITE (English) Emma Murphy, director of London Wine Week

"What's unique about it? It's the largest self-guided wine tasting that there is across London. It's kind of the only event of its kind that we have over here. So we work with 125 bars, restaurants, independent merchants who all get involved whether that's with offers, special menus or ticketed events across the week."

9. Two women with wine flight selection

10. SOUNDBITE (English) Emma Murphy, director of London Wine Week

(Responding to the question Do you think a Brexit will affect the wine industry negatively?)

"I wouldn't have said so, because I mean, I think, you know, wine trade has been going for long enough, even long before the euro, so I wouldn't have thought that would make much difference to be honest with you. Hopefully not anyway."

11. Sign reading (English) "Pop into our pop up wine bars"

12. Various of Portuguese wine pop up

13. Mid of graduate trainees in insurance Oscar Stenpom and Anna Rogers

14. Flight of Portuguese wines

15. SOUNDBITE (English) Oscar Stenbom and Anna Rogers, Insurance Graduate Trainees:

(Responding to question Do you think a Brexit will mean it will be more difficult for people to access quality wine?)

Stenbom: "Yes,"

Rogers: "I guess so, I mean if it's more expensive for them to send the wine here, if there's more tariffs, then yeah I guess it would be."

Stenbom: "It would also be more difficult to know what you're drinking, because there won't be as many restrictions on labelling the wine based on where it's actually from and the grape it's actually come from."

16. Pull focus of Spanish wine labels

17. Vintage bottles of fortified wine

18. Side view of Spanish wine bottles

19. Set up shot of Bettina Lemm with wines from Ribera del Duero in northern Spain

20. SOUNDBITE (English) Bettina Lemm, Westbury Communications (which represents the Ribera del Duero region in the UK):

"I think they (wines of Ribera del Duero) are still an emerging market, especially in the UK. The UK is an important market for Ribera del Duero, it's the seventh-largest export market for Ribera del Duero, but I think that we're still establishing ourselves. A lot of people know some big names from the region, and we're just trying to bring attention to some other grape producers who might not yet have the same recognition."

21. Close of wine labels

22. SOUNDBITE (English) Bettina Lemm, Westbury Communications (who represent the Ribera del Duero region in the UK):

(Responding to the question are you worried about the possibility of a Brexit affecting your export market?)

"I think at the moment we're pretty confident, as we've seen year to year that exports have grown. I think that's going to continue and I don't think it's a worry that we have at the moment."

23. Pan from mediaeval knight sculpture to pop up courtyard

24. Mid of Provence wines pop up

25. Establisher shot of Tom Harrow, wine director of Honest Grapes Wine Club

26. Close of Harrow eyeing the wine

27. SOUNDBITE (English) Tom Harrow, wine director of Honest Grapes:

"There's been a real rise in wine clubs in London and the UK generally of late, and I think this is because people want to engage more with what's in the bottle. It's not just liquid, they want to know the stories behind it, they want to meet the people involved. And there's the sociable aspect, you know wine is fundamentally something which we do with other people."

28. Mid of woman laughing over a glass of wine

29. SOUNDBITE (English) Tom Harrow, wine director of Honest Grapes:

"It's fair to say that we're a bit concerned about the possibilities of Brexit, I think the rising price of the euro against the pound will have a serious effect on quality wine. At the moment more than 60 percent of wine that comes into the UK is shipped in massive great tankers and then bottled over here and that's not something we get involved with. But that becomes the only affordable way if the pound plummets against the euro. So I think that it won't be a good thing initially for the wine consumer because the prices of these small artisan wines will go up."

30. Woman at table with wine

31. SOUNDBITE (English) Tom Harrow, wine director of Honest Grapes:

"All the English wine makers that I speak to say we are half a degree away from being a perfect climate for sparkling wines at least - and even the whites, and to an extent the reds are really coming up. So I have to say it - sorry Al Gore - global warming is a good thing for the UK sparkling wine trade."

32. Various of English rose and white sparkling wines

33. Vermouth being poured into a glass

34. Various of "Regal Rogue" Vermouth bottle

35. Tilt up of Mark Ward, founder of Regal Rogue vermouth, and his produce

36. SOUNDBITE (English) Mark Ward, founder of Regal Rogue vermouth:

"It seemed like a really obvious thing to do, marrying the herbs and spices with this abundance of Australian wine to create a New World style of vermouth. And you know the tradition of vermouth is really led by the European markets. You know, Italian, French, now Spanish - but now there are vermouths coming out of America, the UK, Germany and obviously Australia. So pretty much anywhere where you find wine now, you will find a vermouth of some sort."

37. Crowd of London Wine Week attendees at the Vermouth Bar

38. Mid of vermouth cocktails being made

39. Focus pull of sign reading (English) "Drink Up"

LENGTH: 6:02

LEAD IN:

UK wine industry experts are eyeing the upcoming vote on whether to leave the European Union with mixed feelings.

With producers and suppliers heavily reliant on pan-European trade, many remain unsure how Brexit will impact upon business.

STORY-LINE:

Sparkling wine on a summer's day in the English capital.

Glistening flutes and bottles in abundance, and a crowd of happy lunchtime drinkers add to the atmosphere of excitement and discovery, along with an impromptu game of ping pong.

It must be London Wine Week.

This is the third year of the festival, and this year is the most popular to date.

Festival director Emma Murphy says "It's the largest self-guided wine tasting that there is across London. It's kind of the only event of its kind that we have over here. So we work with 125 bars, restaurants, independent merchants who all get involved" .

But although these flutes of fizz are English sparkling wine, much of the wine the festival goers here are tasting is from EU member states such as France, Spain, Portugal, Italy and Germany.

The June 23 referendum on whether to quit the European Union is fast approaching. So is this something the industry should fear?

"I wouldn't have said so," says Murphy.

"Wine trade has been going for long enough, even long before the euro, so I wouldn't have thought that would make much difference to be honest with you. Hopefully not anyway."

At the festival hub on London's Devonshire Square, there are pop-up bars featuring wines from across Europe.

These two young graduate trainees are enjoying wines from Portugal, and with their festival wristband, it costs them just five British Pounds for a flight of three.

Oscar Stenbom and Anna Rogers both agree that things may well be different if Britain leaves the union.

"If it's more expensive for them to send the wine here, if there's more tariffs, then yeah I guess it would be," says Anna, while Oscar is concerned about regulation and labelling:

"It would also be more difficult to know what you are drinking because there won't be as many restrictions on labelling the wine based on where it's actually from and the grape it's actually come from."

The New Street wine shop has been taken over by the wine festival. They sell wines from all over the world but today they are holding a tasting featuring wines from Ribera del Duero in northern Spain.

Most wine drinkers know about the region of Rioja, but Bettina Lemm is informing these festival goers about the region she represents.

"I think they (wines of Ribera del Duero) are still an emerging market, especially in the UK. The UK is an important market for Ribera del Duero, it's the seventh-largest export market for Ribera del Duero but I think that we're still establishing ourselves."

But if the UK is an important export market, is Brexit going to throw the proverbial spanner into the works? Lemm doesn't seem too worried "I think at the moment we're pretty confident as we've seen year to year that exports have grown. I think that's going to continue and I don't think it's a worry that we have at the moment," she says.

Wine used to have a rather old fashioned reputation and a comparatively elderly demographic, but this has changed enormously in recent years.

The prevalence of wine clubs popping up in the UK is an indicator of wine's increasing popularity.

Tom Harrow of Honest Grapes explains why this is "I think this is because people want to engage more with what's in the bottle. It's not just liquid, they want to know the stories behind it, they want to meet the people involved. And there's the sociable aspect, you know wine is fundamentally something which we do with other people," he says.

With 125 venues across the metropolis taking part in this festival, there's plenty of opportunity to enjoy it with friends.

But with such enthusiasm for wine spreading across the country, June 23 could bring disruption, according to Harrow "It's fair to say that we're a bit concerned about the possibilities of Brexit, I think the rising price of the euro against the pound will have a serious effect on quality wine. At the moment more than 60 percent of wine that comes into the UK is shipped in massive great tankers and bottled over here and that's not something we get involved with. But that becomes the only affordable way if the pound plummets against the euro. So I think that it won't be a good thing initially for the wine consumer because the prices of these small artisan wines will go up" .

However, the future might be bright in other, unexpected ways.

"All the English wine makers that I speak to say we are half a degree away from being a perfect climate for sparkling wines at least," says Harrow, and with apologies to climate change icon Al Gore, he adds that "global warming is a good thing for the UK sparkling wine trade."

Reports by the WSTA (Wine and Spirit Trade Association) suggest there is still some way to go as the UK comes in at number six on the list of sales of sparkling wine by origin - but it's rising year on year.

600 million bottles of wine are bottled in the UK.

This makes the UK wine market the sixth largest in the world, generating 173 billion British pounds of economic activity, according to the WSTA. 10 billion British pounds are made through sales.

Also being showcased here is one of the new kids on the alcohol block, Regal Rogue Vermouth.

According to brand founder Mark Ward, vermouth, by definition, is 75 percent wine. It must have wormwood and it must have an ABV (alcohol by volume) of 15 to 24 percent. These three things have to be in place for a producer to put vermouth on the bottle or it flouts recent EU regulations.

Ward, who was brought up in hospitality, began the project in Australia where he worked closely with top Australian chefs who introduced him to indigenous herbs and spices.

"It seemed like a really obvious thing to do, marrying the herbs and spices with this abundance of Australian wine to create a New World style of vermouth. And you know the tradition of vermouth is really led by the European markets. You know, Italian, French, now Spanish - but now there are vermouths coming out of America, the UK, Germany and obviously Australia. So pretty much anywhere where you find wine now, you will find a vermouth of some sort." he says.

Ward is attempting to educate the wine drinking market which, he believes, is mostly unaware of the fact that vermouth is fundamentally a wine.

This can only be helped by a new pop up for 2016, the Vermouth Bar.

The parent company of London Wine Week is the aptly named "Drink Up London", and they're already preparing for the 2017 event - Brexit or no Brexit.

LEAD IN:

UK wine industry experts are eyeing the upcoming vote on whether to leave the European Union with mixed feelings.

With producers and suppliers heavily reliant on pan-European trade, many remain unsure how Brexit will impact upon business.

STORY-LINE:

Sparkling wine on a summer's day in the English capital.

Glistening flutes and bottles in abundance, and a crowd of happy lunchtime drinkers add to the atmosphere of excitement and discovery, along with an impromptu game of ping pong.

It must be London Wine Week.

This is the third year of the festival, and this year is the most popular to date.

Festival director Emma Murphy says "It's the largest self-guided wine tasting that there is across London. It's kind of the only event of its kind that we have over here. So we work with 125 bars, restaurants, independent merchants who all get involved" .

But although these flutes of fizz are English sparkling wine, much of the wine the festival goers here are tasting is from EU member states such as France, Spain, Portugal, Italy and Germany.

The June 23 referendum on whether to quit the European Union is fast approaching. So is this something the industry should fear?

"I wouldn't have said so," says Murphy.

"Wine trade has been going for long enough, even long before the euro, so I wouldn't have thought that would make much difference to be honest with you. Hopefully not anyway."

At the festival hub on London's Devonshire Square, there are pop-up bars featuring wines from across Europe.

These two young graduate trainees are enjoying wines from Portugal, and with their festival wristband, it costs them just five British Pounds for a flight of three.

Oscar Stenbom and Anna Rogers both agree that things may well be different if Britain leaves the union.

"If it's more expensive for them to send the wine here, if there's more tariffs, then yeah I guess it would be," says Anna, while Oscar is concerned about regulation and labelling:

"It would also be more difficult to know what you are drinking because there won't be as many restrictions on labelling the wine based on where it's actually from and the grape it's actually come from."

The New Street wine shop has been taken over by the wine festival. They sell wines from all over the world but today they are holding a tasting featuring wines from Ribera del Duero in northern Spain.

Most wine drinkers know about the region of Rioja, but Bettina Lemm is informing these festival goers about the region she represents.

"I think they (wines of Ribera del Duero) are still an emerging market, especially in the UK. The UK is an important market for Ribera del Duero, it's the seventh-largest export market for Ribera del Duero but I think that we're still establishing ourselves."

But if the UK is an important export market, is Brexit going to throw the proverbial spanner into the works? Lemm doesn't seem too worried "I think at the moment we're pretty confident as we've seen year to year that exports have grown. I think that's going to continue and I don't think it's a worry that we have at the moment," she says.

Wine used to have a rather old fashioned reputation and a comparatively elderly demographic, but this has changed enormously in recent years.

The prevalence of wine clubs popping up in the UK is an indicator of wine's increasing popularity.

Tom Harrow of Honest Grapes explains why this is "I think this is because people want to engage more with what's in the bottle. It's not just liquid, they want to know the stories behind it, they want to meet the people involved. And there's the sociable aspect, you know wine is fundamentally something which we do with other people," he says.

With 125 venues across the metropolis taking part in this festival, there's plenty of opportunity to enjoy it with friends.

But with such enthusiasm for wine spreading across the country, June 23 could bring disruption, according to Harrow "It's fair to say that we're a bit concerned about the possibilities of Brexit, I think the rising price of the euro against the pound will have a serious effect on quality wine. At the moment more than 60 percent of wine that comes into the UK is shipped in massive great tankers and bottled over here and that's not something we get involved with. But that becomes the only affordable way if the pound plummets against the euro. So I think that it won't be a good thing initially for the wine consumer because the prices of these small artisan wines will go up" .

However, the future might be bright in other, unexpected ways.

"All the English wine makers that I speak to say we are half a degree away from being a perfect climate for sparkling wines at least," says Harrow, and with apologies to climate change icon Al Gore, he adds that "global warming is a good thing for the UK sparkling wine trade."

Reports by the WSTA (Wine and Spirit Trade Association) suggest there is still some way to go as the UK comes in at number six on the list of sales of sparkling wine by origin - but it's rising year on year.

600 million bottles of wine are bottled in the UK.

This makes the UK wine market the sixth largest in the world, generating 173 billion British pounds of economic activity, according to the WSTA. 10 billion British pounds are made through sales.

Also being showcased here is one of the new kids on the alcohol block, Regal Rogue Vermouth.

According to brand founder Mark Ward, vermouth, by definition, is 75 percent wine. It must have wormwood and it must have an ABV (alcohol by volume) of 15 to 24 percent. These three things have to be in place for a producer to put vermouth on the bottle or it flouts recent EU regulations.

Ward, who was brought up in hospitality, began the project in Australia where he worked closely with top Australian chefs who introduced him to indigenous herbs and spices.

"It seemed like a really obvious thing to do, marrying the herbs and spices with this abundance of Australian wine to create a New World style of vermouth. And you know the tradition of vermouth is really led by the European markets. You know, Italian, French, now Spanish - but now there are vermouths coming out of America, the UK, Germany and obviously Australia. So pretty much anywhere where you find wine now, you will find a vermouth of some sort." he says.

Ward is attempting to educate the wine drinking market which, he believes, is mostly unaware of the fact that vermouth is fundamentally a wine.

This can only be helped by a new pop up for 2016, the Vermouth Bar.

The parent company of London Wine Week is the aptly named "Drink Up London", and they're already preparing for the 2017 event - Brexit or no Brexit.

AP Television

London - 27 May 2016

1. Close of wine glasses

2. Bartender pouring sparkling wine

3. Tilt down on central courtyard at Devonshire Square, the hub for London Wine Week

4. Group of friends enjoying English sparkling wine

5. Men playing table tennis

6. Sign reading (English) "London Wine Week"

7. Set up shot of Emma Murphy, director of London Wine Week

8. SOUNDBITE (English) Emma Murphy, director of London Wine Week

"What's unique about it? It's the largest self-guided wine tasting that there is across London. It's kind of the only event of its kind that we have over here. So we work with 125 bars, restaurants, independent merchants who all get involved whether that's with offers, special menus or ticketed events across the week."

9. Two women with wine flight selection

10. SOUNDBITE (English) Emma Murphy, director of London Wine Week

(Responding to the question Do you think a Brexit will affect the wine industry negatively?)

"I wouldn't have said so, because I mean, I think, you know, wine trade has been going for long enough, even long before the euro, so I wouldn't have thought that would make much difference to be honest with you. Hopefully not anyway."

11. Sign reading (English) "Pop into our pop up wine bars"

12. Various of Portuguese wine pop up

13. Mid of graduate trainees in insurance Oscar Stenpom and Anna Rogers

14. Flight of Portuguese wines

15. SOUNDBITE (English) Oscar Stenbom and Anna Rogers, Insurance Graduate Trainees:

(Responding to question Do you think a Brexit will mean it will be more difficult for people to access quality wine?)

Stenbom: "Yes,"

Rogers: "I guess so, I mean if it's more expensive for them to send the wine here, if there's more tariffs, then yeah I guess it would be."

Stenbom: "It would also be more difficult to know what you're drinking, because there won't be as many restrictions on labelling the wine based on where it's actually from and the grape it's actually come from."

16. Pull focus of Spanish wine labels

17. Vintage bottles of fortified wine

18. Side view of Spanish wine bottles

19. Set up shot of Bettina Lemm with wines from Ribera del Duero in northern Spain

20. SOUNDBITE (English) Bettina Lemm, Westbury Communications (which represents the Ribera del Duero region in the UK):

"I think they (wines of Ribera del Duero) are still an emerging market, especially in the UK. The UK is an important market for Ribera del Duero, it's the seventh-largest export market for Ribera del Duero, but I think that we're still establishing ourselves. A lot of people know some big names from the region, and we're just trying to bring attention to some other grape producers who might not yet have the same recognition."

21. Close of wine labels

22. SOUNDBITE (English) Bettina Lemm, Westbury Communications (who represent the Ribera del Duero region in the UK):

(Responding to the question are you worried about the possibility of a Brexit affecting your export market?)

"I think at the moment we're pretty confident, as we've seen year to year that exports have grown. I think that's going to continue and I don't think it's a worry that we have at the moment."

23. Pan from mediaeval knight sculpture to pop up courtyard

24. Mid of Provence wines pop up

25. Establisher shot of Tom Harrow, wine director of Honest Grapes Wine Club

26. Close of Harrow eyeing the wine

27. SOUNDBITE (English) Tom Harrow, wine director of Honest Grapes:

"There's been a real rise in wine clubs in London and the UK generally of late, and I think this is because people want to engage more with what's in the bottle. It's not just liquid, they want to know the stories behind it, they want to meet the people involved. And there's the sociable aspect, you know wine is fundamentally something which we do with other people."

28. Mid of woman laughing over a glass of wine

29. SOUNDBITE (English) Tom Harrow, wine director of Honest Grapes:

"It's fair to say that we're a bit concerned about the possibilities of Brexit, I think the rising price of the euro against the pound will have a serious effect on quality wine. At the moment more than 60 percent of wine that comes into the UK is shipped in massive great tankers and then bottled over here and that's not something we get involved with. But that becomes the only affordable way if the pound plummets against the euro. So I think that it won't be a good thing initially for the wine consumer because the prices of these small artisan wines will go up."

30. Woman at table with wine

31. SOUNDBITE (English) Tom Harrow, wine director of Honest Grapes:

"All the English wine makers that I speak to say we are half a degree away from being a perfect climate for sparkling wines at least - and even the whites, and to an extent the reds are really coming up. So I have to say it - sorry Al Gore - global warming is a good thing for the UK sparkling wine trade."

32. Various of English rose and white sparkling wines

33. Vermouth being poured into a glass

34. Various of "Regal Rogue" Vermouth bottle

35. Tilt up of Mark Ward, founder of Regal Rogue vermouth, and his produce

36. SOUNDBITE (English) Mark Ward, founder of Regal Rogue vermouth:

"It seemed like a really obvious thing to do, marrying the herbs and spices with this abundance of Australian wine to create a New World style of vermouth. And you know the tradition of vermouth is really led by the European markets. You know, Italian, French, now Spanish - but now there are vermouths coming out of America, the UK, Germany and obviously Australia. So pretty much anywhere where you find wine now, you will find a vermouth of some sort."

37. Crowd of London Wine Week attendees at the Vermouth Bar

38. Mid of vermouth cocktails being made

39. Focus pull of sign reading (English) "Drink Up"

LENGTH: 6:02

Thousands of British expatriates have learned to love the pleasure the Portuguese sunshine and the easier lifestyle, but with the so called "Brexit" on the horizon, a cloud of uncertainty is taking shape in the Algarve's blue skies. What will happen if Britain votes to leave the European Union in a June referendum?

The UK and Portugal are both part of the 28 countries making up the bloc.

EU laws stipulate that the bloc's citizens have the same rights as those nationals in any other member nation.

The impending ballot has brought questions and concerns for the British expats about what might happen if they no longer belong to the EU.

Would the so-called 'Brexit' bring different rules for their property ownerships and taxation, as well as inheritance rights?

Will British expats still be entitled to local welfare benefits and free public health services?

Would they still be able to have automatic residence and work permits?

In Vilamoura, where many expatriates live in extensive condominiums, the Lawn Bowls green showcases one of Britain's most genteel sports.

The Vilamoura Lawn Bowls Club has around 40 members who play three-hour games, and there is enough interest in the sport from Britons living along Portugal's southern Algarve coastline to sustain eight lawn bowls clubs which now play in two leagues.

For John Hewitson, who retired out here with his wife 15 years ago and lives off his British old-age pension, the immediate worry is the exchange rate.

The British pound has weakened recently as markets fret over the referendum.

If sterling drops to parity with the shared euro currency, which Portugal uses, it "would be a disaster for pensioners," he says.

Campaigners who want the UK out of the EU say they are fed up with, among other things, immigrants having access to often overstretched British welfare benefits and public services.

The House of Commons library calculates there are around three (m) million EU migrants living in the UK.

Peter Booker, who retired with his schoolteacher wife to Tavira in the eastern Algarve 17 years ago after a three-decade career in the British coal industry, founded the Algarve History Association, which encourages expatriates to learn about Portugal.

Booker rejects the benefits argument, saying reciprocity is fair and right.

He said he benefits in Portugal ... and the Portuguese benefit in Britain. That, he said, is right and it should remain like that.

Sheila MacDonald a retired Scottish woman, lives in Tavira Garden, a condominium set around a large swimming pool, in the town of the same name, that is home to dozens of expatriates.

She came for the healthy climate and belongs to expat clubs that study books, music and archaeology.

She worries about welfare and "this whole business of 'no welfare for people who are emigrating into Great Britain," and asks about the "Brits who have emigrated into the EU."

Sixty-year-old Michael Wood says the Portuguese Health Service has been a good friend to him as well, with prices "next to nothing" when compared to Britain.

Wood does not consider returning anytime soon.

"Why? Why would I want to?" He says with a smile.

Britain's House of Commons library estimates there are roughly 1.2 (m) million British migrants living in other EU countries, especially France, Spain and Portugal.

Analysts reckon, however, the true number could be at least double that and maybe a lot more because many people don't bother registering with their embassies or local authorities.

Thousands of British expatriates have learned to love the pleasure the Portuguese sunshine and the easier lifestyle, but with the so called "Brexit" on the horizon, a cloud of uncertainty is taking shape in the Algarve's blue skies. What will happen if Britain votes to leave the European Union in a June referendum?

The UK and Portugal are both part of the 28 countries making up the bloc.

EU laws stipulate that the bloc's citizens have the same rights as those nationals in any other member nation.

The impending ballot has brought questions and concerns for the British expats about what might happen if they no longer belong to the EU.

Would the so-called 'Brexit' bring different rules for their property ownerships and taxation, as well as inheritance rights?

Will British expats still be entitled to local welfare benefits and free public health services?

Would they still be able to have automatic residence and work permits?

In Vilamoura, where many expatriates live in extensive condominiums, the Lawn Bowls green showcases one of Britain's most genteel sports.

The Vilamoura Lawn Bowls Club has around 40 members who play three-hour games, and there is enough interest in the sport from Britons living along Portugal's southern Algarve coastline to sustain eight lawn bowls clubs which now play in two leagues.

For John Hewitson, who retired out here with his wife 15 years ago and lives off his British old-age pension, the immediate worry is the exchange rate.

The British pound has weakened recently as markets fret over the referendum.

If sterling drops to parity with the shared euro currency, which Portugal uses, it "would be a disaster for pensioners," he says.

Campaigners who want the UK out of the EU say they are fed up with, among other things, immigrants having access to often overstretched British welfare benefits and public services.

The House of Commons library calculates there are around three (m) million EU migrants living in the UK.

Peter Booker, who retired with his schoolteacher wife to Tavira in the eastern Algarve 17 years ago after a three-decade career in the British coal industry, founded the Algarve History Association, which encourages expatriates to learn about Portugal.

Booker rejects the benefits argument, saying reciprocity is fair and right.

He said he benefits in Portugal ... and the Portuguese benefit in Britain. That, he said, is right and it should remain like that.

Sheila MacDonald a retired Scottish woman, lives in Tavira Garden, a condominium set around a large swimming pool, in the town of the same name, that is home to dozens of expatriates.

She came for the healthy climate and belongs to expat clubs that study books, music and archaeology.

She worries about welfare and "this whole business of 'no welfare for people who are emigrating into Great Britain," and asks about the "Brits who have emigrated into the EU."

Sixty-year-old Michael Wood says the Portuguese Health Service has been a good friend to him as well, with prices "next to nothing" when compared to Britain.

Wood does not consider returning anytime soon.

"Why? Why would I want to?" He says with a smile.

Britain's House of Commons library estimates there are roughly 1.2 (m) million British migrants living in other EU countries, especially France, Spain and Portugal.

Analysts reckon, however, the true number could be at least double that and maybe a lot more because many people don't bother registering with their embassies or local authorities.

Vilamoura - 1 March 2016

1. Pensioners playing a game of bowls known as 'woods' at the lawn bowls green of Vilamoura

2. Players and score board marker

3. Set up shot for pensioner John Hewitson

4. SOUNDBITE (English) John Hewitson, 73-year-old pensioner:

"All pensions are paid into the UK and it comes out here in Euros. We went through a good patch and then we come through a bad patch. I think if UK did come out of the Eurozone (referring to the European Union) I think it would mean that the pound is fluctuating again quite a lot before it stabilises and it could stabilise the wrong way and go nearer the one to one, I suppose, which would be a disaster for the pensioners."

5. Wide of lawn bowls green

Albufeira - 1 March 2016

6. Pan from ocean to beach

7. Various of restaurants in downtown Albufeira

8. Sign reading "English Breakfast"

9. Set up shot for pensioner Michael Wood pulling a pint

10. Close of pint of beer

11. SOUNDBITE (English) Michael Wood, 60-year-old pensioner and pub owner:

"I go to see the doctor and it costs me five Euros. I go to the Emergency and it costs me 15 Euros. I don't mind paying five Euros or 15 Euros because you know you're going to get seen straight away, within half-an-hour or maybe within an hour. You're not sitting there for eight or nine hours and if it is an emergency you're straight in anyway. And of course the cost of prescriptions - next to nothing, really."

12. Close of logo on Wood's shirt

13. SOUNDBITE (English) Michael Wood, 60-year-old pensioner and pub owner:

"People say, 'would you ever go back to England?' I say, 'Why?' Why would I want to? I'm quite happy here."

Tavira - 2 March 2016

14. Sign of Tavira Garden, residential and holiday complex

15. Mid of swimming pool

16. Set up shot for pensioner Sheila MacDonald

17. SOUNDBITE (English) Sheila MacDonald, 79-year-old Pensioner:

"We're concerned about GP services here. Are we going to be entitled to it? In theory, if they are going to prevent this whole business of 'no welfare for people who are emigrating into Great Britain', then what about the Brits who have emigrated into the EU?"

Olhao - 2 March 2016

18. Various of Olhao dock

19. Set up shot for pensioner Peter Booker

20. SOUNDBITE (English) Peter Booker, pensioner and founder of Algarve History Association:

"The agreements with the European Union mean free movement of labour and people within the Union. I don't see what's wrong with that happening. I benefit here in Portugal, Portuguese benefit in Britain and I think that that is right, it should remain like that and I don't see any justification for altering those rules."

21. Various of news stand with British papers

Albufeira - 1 March 2016

22. Various of Albufeira beach

When Britain decides this week whether to leave the European Union, London's voice may prove decisive. But for which side?

Britain's capital, home to almost nine million people, encompasses the most pro-EU place of the country, and the least.

In the cosmopolitan City financial district, where almost half a million people from around the globe work in Europe's biggest financial centre, pro-EU sentiment predominates.

But just a few miles away, the borough of Havering, stronghold of working-class East Enders, topped a national survey of the most anti-EU places in Britain.

The two districts represent the opposing views at the heart Britain's EU debate.

One sees the bloc’s free flow of people and money as a benefit. The other sees it as a threat.

Havering, a chunk of suburban Essex county absorbed into Greater London in 1965, is a workaday place of 20th-century houses and strips of shops on busy roads.

Many residents are Cockneys who moved out of London's East End in search of more space and quiet, or their children.

It's not the poorest part of London, nor the area with the most immigrants.

Havering is one of London's least ethnically diverse boroughs - 83 percent of people here identify themselves as "white British," compared to 45 percent in London as a whole.

Almost 90 percent of Havering residents were born in Britain, compared to 63 percent for all of London.

Like other local authorities, Havering Council has had its funding from central government slashed under austerity programmes aimed at reducing the national deficit.

"We've been told there is austerity, we must cut back," said Lawrence Webb, a Havering councillor for the anti-EU UK Independence Party.

While fishmonger David Crosbie, working on a drizzly morning in Havering's Romford street market, is an emphatic "leave" voter.

For Crosbie, the decision has a lot to do with borders, on land and sea.

He says he is tired of European fishermen trawling waters around Britain under the EU's Common Fisheries Policy.

"Remain" campaigners say government austerity is rooted in the 2008 financial crisis and in British politicians' choices, not the EU.

Nonetheless, migrants and the EU often take the blame in Havering, where many people say they do not see the benefits of immigration.

That view is less common in central London and not just in the financial district.

In multiethnic inner-city areas such as Camden and Islington, it's rare to spot a "leave" sign.

Immigration has become the most emotive issue of the campaign for Thursday’s referendum, stirring fears of instability among voters and drawing allegations of xenophobia from "remain" supporters.

The EU is built on the principle that citizens can live and work in any of the 28 member states.

Since the bloc expanded to include former Communist countries in eastern Europe more than a decade ago, hundreds of thousands of people have moved west to Britain and other, wealthier, EU nations.

The perception that EU migrants come to take jobs and, somewhat paradoxically, to live on welfare benefits, is driving "leave" sentiment in Havering and other Eurosceptic areas.

But 15 miles (24 kilometres) to the southwest in the historic heart of financial London, policy chief Mark Boleat argues that thousands of jobs, and London's standing as a financial centre, depend on the EU.

That view is backed by the Economist Intelligence Unit, which said last week that leaving the EU would endanger London's status as a global financial hub, "almost certainly depriving UK-based financial firms of their passport to conduct business anywhere in the EU."

When Britain decides this week whether to leave the European Union, London's voice may prove decisive. But for which side?

Britain's capital, home to almost nine million people, encompasses the most pro-EU place of the country, and the least.

In the cosmopolitan City financial district, where almost half a million people from around the globe work in Europe's biggest financial centre, pro-EU sentiment predominates.

But just a few miles away, the borough of Havering, stronghold of working-class East Enders, topped a national survey of the most anti-EU places in Britain.

The two districts represent the opposing views at the heart Britain's EU debate.

One sees the bloc’s free flow of people and money as a benefit. The other sees it as a threat.

Havering, a chunk of suburban Essex county absorbed into Greater London in 1965, is a workaday place of 20th-century houses and strips of shops on busy roads.

Many residents are Cockneys who moved out of London's East End in search of more space and quiet, or their children.

It's not the poorest part of London, nor the area with the most immigrants.

Havering is one of London's least ethnically diverse boroughs - 83 percent of people here identify themselves as "white British," compared to 45 percent in London as a whole.

Almost 90 percent of Havering residents were born in Britain, compared to 63 percent for all of London.

Like other local authorities, Havering Council has had its funding from central government slashed under austerity programmes aimed at reducing the national deficit.

"We've been told there is austerity, we must cut back," said Lawrence Webb, a Havering councillor for the anti-EU UK Independence Party.

While fishmonger David Crosbie, working on a drizzly morning in Havering's Romford street market, is an emphatic "leave" voter.

For Crosbie, the decision has a lot to do with borders, on land and sea.

He says he is tired of European fishermen trawling waters around Britain under the EU's Common Fisheries Policy.

"Remain" campaigners say government austerity is rooted in the 2008 financial crisis and in British politicians' choices, not the EU.

Nonetheless, migrants and the EU often take the blame in Havering, where many people say they do not see the benefits of immigration.

That view is less common in central London and not just in the financial district.

In multiethnic inner-city areas such as Camden and Islington, it's rare to spot a "leave" sign.

Immigration has become the most emotive issue of the campaign for Thursday’s referendum, stirring fears of instability among voters and drawing allegations of xenophobia from "remain" supporters.

The EU is built on the principle that citizens can live and work in any of the 28 member states.

Since the bloc expanded to include former Communist countries in eastern Europe more than a decade ago, hundreds of thousands of people have moved west to Britain and other, wealthier, EU nations.

The perception that EU migrants come to take jobs and, somewhat paradoxically, to live on welfare benefits, is driving "leave" sentiment in Havering and other Eurosceptic areas.

But 15 miles (24 kilometres) to the southwest in the historic heart of financial London, policy chief Mark Boleat argues that thousands of jobs, and London's standing as a financial centre, depend on the EU.

That view is backed by the Economist Intelligence Unit, which said last week that leaving the EU would endanger London's status as a global financial hub, "almost certainly depriving UK-based financial firms of their passport to conduct business anywhere in the EU."

Havering -1 June 2016

1. Wide of market, vote leave sign

2. Close of vote leave sign

3. Mid of market

4. England flag

5. Pan from town hall sign to Havering town hall, flags flying

6. SOUNDBITE (English) Lawrence Webb, UKIP Councillor:

"There are many, many reasons, not least of which is the cost to us as a council and a country of being members of the EU. But this referendum is about one single issue, and that is sovereignty. It's about who makes the laws that govern our lives although if you speak to ten different people you get ten different reasons why people may be voting out, but that in a nutshell is what it is about. It is about who makes those decisions over our lives."

7. Cutaway of flags flying over town hall

8. SOUNDBITE (English) Lawrence Webb, UKIP Councillor:

"We've been told there is austerity, we must cut back. The one budget, or two budgets that haven't been cut are our membership fee of the EU and foreign aid. Our view is that money should be spent here. So stop giving Brussels a single penny until we sort our own economy out."

9. Wide of market

10. Seafood at fishmonger stand at Havering market

11. SOUNDBITE (English) David Crosby, fishmonger:

"They want to stay in because it's beneficial to them. But that's not even one percent of the population. 90 odd percent of them don't earn like half a million pounds a year in bonuses and all this lark which they can tuck round the corner like in Liechtenstein, Panama, wherever. Normal people like have to go and work for a living and they want to earn their own money."

12. Keep calm and leave the EU sign

13. SOUNDBITE (English) Sukh Singh, works on family stall:

"They (Europeans) come here, and they don't work and they just claim benefits and also they don't give a chance to people who are born here, to English people."

14. SOUNDBITE (English) Jackie Duvall, market researcher:

"If immigration is so wonderful two and two isn't making four. They say they contribute towards the economy, I don't doubt it but and the end of the day, where is the money going? Where are all the extra taxes going? Is it going to hospitals? No. Education, the prison service? It's going nowhere. So, it's a con trick."

London - 17 June 2016

15. Pan of Bank of England

16. Set up of Mark Boleat, policy chairman at City of London Corporation

17. SOUNDBITE (English) Mark Boleat, policy chairman at City of London Corporation:

"The City of London's position is that Britain should remain a member of the European Union. We think the European Union has been good for the country generally, very good for financial services, many jobs depend on it, and we think that leaving the European Union will be taking a significant risk. The city would undoubtedly remain a very large international financial centre, but we think it would be smaller than it would be if Britain remained in."

18. Cutaway of Boleat talking

19. SOUNDBITE (English) Mark Boleat, policy chairman at City of London Corporation:

"You take investment banking, there are 100,000 jobs roughly in Europe, 90,000 of them in Britain. If Britain is not in the European Union, that ability would be lost. And secondly, is the free movement of labour. The City is very international. You hear almost any language conceivable in the streets of London. The big institutions have no hesitation in bringing in people from France, Germany and Spain, Italy, Romania, Bulgaria and similarly people move from Britain to those countries. If Britain was not in the European Union, that would not be so easy."

20. Pan down from Bank to Royal Exchange sign

21. Set up shot of Amy Wilson 27, Technology Consultant in the City

22. SOUNDBITE (English) Amy Wilson, Technology Consultant in the City:

"I'm strongly 'remain', I think probably most people I know are also strongly 'remain'. I don't know if it seems to me like it's a London thing, it seems more like a generational thing to me."

23. Cutaway of Royal Exchange

24. SOUNDBITE (English) Michael Patterson, restaurateur in the City:

"My view is we should remain and have another referendum in five years time when the situation will be much clearer and we will get a decisive result which will last for all time."

25. City workers eating lunch

26. SOUNDBITE (English) James Sylvester, works in IT services in the City:

"It's also the devil you know. It's better to be in and fight rather than to be out and fight. It's an easier way. Path of least resistance."

27. City workers on street

28. SOUNDBITE (English) Richard Wells, works part time as a Broker for Lloyds:

"It's very close for me, 51-49 in favour of Brexit, I have to say. I've done some studies on it. It's going to knock share prices, stock markets, the economy for a bit. I think it's more important as things go to try and get our country back a bit more. I think that's more important to me than it is the economic effect. But it's so close, it's really, really close."

29. Pan down of exchange

LEAD IN:

Torrential rain has halted the first day of the Farnborough International Airshow, after organisers asked visitors to leave the site early due to safety concerns.

But the British summer weather is not the only thing casting gloom over the event.

The airshow is opening amid the economic uncertainty surrounding Britain's recent vote to leave the EU, with some analysts predicting fewer orders compared with the previous show in 2014.

STORY-LINE:

Black clouds loom over the Farnborough International Airshow and soon a torrential downpour drenches the site.

Organisers were forced to cancel the day's flying display and close the show early, saying they were concerned about safety.

Earlier in the day, the grey clouds were already building.

And aviation experts are predicting a similarly dreary outlook for commercial orders at the week-long aviation industry extravaganza.

Economic uncertainty and production backlogs mean many anticipate this year's event will not be able to compete with 2014's record-breaking level of orders and commitments.

According to Farnborough Airshow, 2014's event reached 204 billion US dollars in orders and commitments.

"I think there's a couple of issues at play," explains Richard Aboulafia, vice-president of the aviation industry analysts, Teal Group.

"One is that backlogs are enormous so if anything this should be a story about execution rather than bringing in additional orders. The second, of course, is just the macro-economic bleak outlook, we're waiting for that to impact the aviation business. It hasn't happened yet, but people are concerned."

Independent aerospace industry expert Howard Wheeldon is more upbeat, saying the expected drop in orders is part of the aviation industry's cycle.

"There'll certainly be fewer orders this year than there were two years ago at this show which in itself was lower than the show two years before. I think that you have to remember that the commercial aircraft industry has gone through a very big hiatus over the last 10 years. Orders doubled, it didn't just grow, they doubled, in some cases trebled. So we have to work our way through that," he says.

"The commercial aircraft manufacturers have got 10 years' worth of orders in hand, the manufacturers themselves have got a big issue in insuring that they can get those aircraft out of the door, with their component suppliers working alongside. So, it's probably no bad thing that we're going through a bit of a dip. It is still a cyclical industry, oil is still a determining factor, so there are many, many issues."

Rather than sales, analysts predict there'll be an increased focus on efficiency, as airlines attempt to squeeze everything they can from current aircraft in their fleets.

Boeing claim this new 737 MAX will deliver eight percent lower operating costs than its main competitor.

Early on Monday, China's Donghai Airlines and Boeing announced the airline intends to purchase 25 737 MAX 8s and five 787-9 Dreamliners in a deal valued at more than four billion US dollars.

"You know, fuel prices of course have come down quite a bit," says Aboulafia.

"But people are still scarred from all those years of very high fuel so they're trying to do their best to cope with that by adopting the latest and most efficient jet engines and of course squeezing as many people as they can into a given tube. These are the ways you cope with high jet prices, high fuel prices."

One area where industry experts believe there may be significant activity is in military and defence, including fighter jets and drones.

At a recent summit in Warsaw, NATO allies agreed to provide increased military support to countries in the Middle East and North Africa that are targets of Islamic extremism.

In the first big deal of the airshow, Britain signed a contract for nine new P-8A Poseidon military aircraft.

"I think defence is going to play a very big role in this show and that of course is the flipped of the global uncertainty we're seeing out there," says Aboulafia.

"It really is having a positive effect on defence spending, sad commentary on the times I suppose. You'll probably see some announcements, the problem is that defence, typically that doesn't show up in the form of actual sales activity at airshows, it's more just talks, agreements, things like that. It's not the same as airlines showing up and placing an order for 100 jets that actually means something."

The week-long event comes just weeks after Britain's vote to leave the European Union.

The pound hit a new 31-year record low and stock markets declined across Europe following the result.

Analysts believe it may not affect airlines' long-term plans and orders, but admit it may cause temporary uncertainty at an already difficult time.

"Long-term, I don't think it will be an issue," says Aboulafia.

"There'll be a way to negotiate the worst fears away from this. What is an issue is the uncertainty and there's so much uncertainty in the world, we don't need more, because of course with uncertainty you get companies baulking at investment decisions, like buying jets."

But Wheeldon says he does not expect Brexit to have a particular impact on the activity at this year's show.

"Brexit may be the first thing on people's minds here in the UK at the moment, but it's the last thing on the minds of those here who are thinking about placing orders," he says.

"They will place orders whether Brexit occurs or not, of course it's going to occur, it's not going to change anything, investment is long-term. Yes, there may be changes ten years from now, but it's not going to affect anything that's already here. So, I think it's the last thing on anybody's lips in terms of fearing that anything's going to happen. Though I accept there is a degree of uncertainty caused by it."

The Farnborough International Airshow takes place every two years and runs from 11 to 17 July 2016 - weather permitting.

LEAD IN:

Torrential rain has halted the first day of the Farnborough International Airshow, after organisers asked visitors to leave the site early due to safety concerns.

But the British summer weather is not the only thing casting gloom over the event.

The airshow is opening amid the economic uncertainty surrounding Britain's recent vote to leave the EU, with some analysts predicting fewer orders compared with the previous show in 2014.

STORY-LINE:

Black clouds loom over the Farnborough International Airshow and soon a torrential downpour drenches the site.

Organisers were forced to cancel the day's flying display and close the show early, saying they were concerned about safety.

Earlier in the day, the grey clouds were already building.

And aviation experts are predicting a similarly dreary outlook for commercial orders at the week-long aviation industry extravaganza.

Economic uncertainty and production backlogs mean many anticipate this year's event will not be able to compete with 2014's record-breaking level of orders and commitments.

According to Farnborough Airshow, 2014's event reached 204 billion US dollars in orders and commitments.

"I think there's a couple of issues at play," explains Richard Aboulafia, vice-president of the aviation industry analysts, Teal Group.

"One is that backlogs are enormous so if anything this should be a story about execution rather than bringing in additional orders. The second, of course, is just the macro-economic bleak outlook, we're waiting for that to impact the aviation business. It hasn't happened yet, but people are concerned."

Independent aerospace industry expert Howard Wheeldon is more upbeat, saying the expected drop in orders is part of the aviation industry's cycle.

"There'll certainly be fewer orders this year than there were two years ago at this show which in itself was lower than the show two years before. I think that you have to remember that the commercial aircraft industry has gone through a very big hiatus over the last 10 years. Orders doubled, it didn't just grow, they doubled, in some cases trebled. So we have to work our way through that," he says.

"The commercial aircraft manufacturers have got 10 years' worth of orders in hand, the manufacturers themselves have got a big issue in insuring that they can get those aircraft out of the door, with their component suppliers working alongside. So, it's probably no bad thing that we're going through a bit of a dip. It is still a cyclical industry, oil is still a determining factor, so there are many, many issues."

Rather than sales, analysts predict there'll be an increased focus on efficiency, as airlines attempt to squeeze everything they can from current aircraft in their fleets.

Boeing claim this new 737 MAX will deliver eight percent lower operating costs than its main competitor.

Early on Monday, China's Donghai Airlines and Boeing announced the airline intends to purchase 25 737 MAX 8s and five 787-9 Dreamliners in a deal valued at more than four billion US dollars.

"You know, fuel prices of course have come down quite a bit," says Aboulafia.

"But people are still scarred from all those years of very high fuel so they're trying to do their best to cope with that by adopting the latest and most efficient jet engines and of course squeezing as many people as they can into a given tube. These are the ways you cope with high jet prices, high fuel prices."

One area where industry experts believe there may be significant activity is in military and defence, including fighter jets and drones.

At a recent summit in Warsaw, NATO allies agreed to provide increased military support to countries in the Middle East and North Africa that are targets of Islamic extremism.

In the first big deal of the airshow, Britain signed a contract for nine new P-8A Poseidon military aircraft.

"I think defence is going to play a very big role in this show and that of course is the flipped of the global uncertainty we're seeing out there," says Aboulafia.

"It really is having a positive effect on defence spending, sad commentary on the times I suppose. You'll probably see some announcements, the problem is that defence, typically that doesn't show up in the form of actual sales activity at airshows, it's more just talks, agreements, things like that. It's not the same as airlines showing up and placing an order for 100 jets that actually means something."

The week-long event comes just weeks after Britain's vote to leave the European Union.

The pound hit a new 31-year record low and stock markets declined across Europe following the result.

Analysts believe it may not affect airlines' long-term plans and orders, but admit it may cause temporary uncertainty at an already difficult time.

"Long-term, I don't think it will be an issue," says Aboulafia.

"There'll be a way to negotiate the worst fears away from this. What is an issue is the uncertainty and there's so much uncertainty in the world, we don't need more, because of course with uncertainty you get companies baulking at investment decisions, like buying jets."

But Wheeldon says he does not expect Brexit to have a particular impact on the activity at this year's show.

"Brexit may be the first thing on people's minds here in the UK at the moment, but it's the last thing on the minds of those here who are thinking about placing orders," he says.

"They will place orders whether Brexit occurs or not, of course it's going to occur, it's not going to change anything, investment is long-term. Yes, there may be changes ten years from now, but it's not going to affect anything that's already here. So, I think it's the last thing on anybody's lips in terms of fearing that anything's going to happen. Though I accept there is a degree of uncertainty caused by it."

The Farnborough International Airshow takes place every two years and runs from 11 to 17 July 2016 - weather permitting.

AP Television

Farnborough, UK - 11 July 2016

1. Wide of black rain clouds over Farnborough International Airshow

2. Mid of fighter jet taxiing as rain starts to fall

3. Mid of pilot in cockpit as heavy rain falls

4. Wide of airshow under heavy rain with camera lens covered in raindrops

5. Tilt up to high shot of Farnborough International Airshow earlier in the day

6. Wide of Qatar Airways passenger aircraft nose

7. Flags flying in the wind

8. Various of Qatar Airways passenger aircraft

9. SOUNDBITE (English) Richard Aboulafia, Vice-President of Teal Group:

"I think there's a couple of issues at play. One is that backlogs are enormous, so if anything this should be a story about execution rather than bringing in additional orders. The second, of course, is just the macro-economic bleak outlook, we're waiting for that to impact the aviation business. It hasn't happened yet, but people are concerned."

10. Various of Airbus A380 passenger aircraft

11. Wide of airshow visitors

12. SOUNDBITE (English) Howard Wheeldon, Independent Aerospace Industry Expert:

"There'll certainly be fewer orders this year than there were two years ago at this show which in itself was lower than the show two years before. I think that you have to remember that the commercial aircraft industry has gone through a very big hiatus over the last 10 years. Orders doubled, it didn't just grow, they doubled, in some cases trebled. So we have to work our way through that. The commercial aircraft manufacturers have got 10 years' worth of orders in hand, the manufacturers themselves have got a big issue in insuring that they can get those aircraft out of the door, with their component suppliers working alongside. So, it's probably no bad thing that we're going through a bit of a dip. It is still a cyclical industry, oil is still a determining factor, so there are many, many issues."

13. Various of Qatar Airways executive jet

14. Various of Boeing 737 MAX

15. SOUNDBITE (English) Richard Aboulafia, Vice-President of Teal Group:

"You know, fuel prices of course have come down quite a bit, but people are still scarred from all those years of very high fuel, so they're trying to do their best to cope with that by adopting the latest and most efficient jet engines and of course squeezing as many people as they can into a given tube. These are the ways you cope with high jet prices, high fuel prices."

16. Tilt up to wide high shot of military and defence area of Farnborough International Airshow

17. Wide of Raytheon T-100 jet

18. Wide of two fighter jets

19. Wide of Royal Navy helicopter

20. SOUNDBITE (English) Richard Aboulafia, Vice-President of Teal Group:

"I think defence is going to play a very big role in this show and that of course is the flip side of the global uncertainty we're seeing out there. It really is having a positive effect on defence spending, sad commentary on the times I suppose. You'll probably see some announcements, the problem is that defence, typically that doesn't show up in the form of actual sales activity at airshows, it's more just talks, agreements, things like that. It's not the same as airlines showing up and placing an order for 100 jets that actually means something."

21. Pan left of military and defence area

22. Close of jet engines

23. Wide of military personnel standing on top of helicopter

24. Wide of military helicopter

25. SOUNDBITE (English) Richard Aboulafia, Vice-President of Teal Group:

"Long-term, I don't think it will be an issue. There'll be a way to negotiate the worst fears away from this. What is an issue is the uncertainty and there's so much uncertainty in the world, we don't need more, because of course with uncertainty you get companies baulking at investment decisions - like buying jets."

26. Wide of Bombardier C Series passenger aircraft

27. Wide of Iberia Regional passenger aircraft

28. SOUNDBITE (English) Howard Wheeldon, Independent Aerospace Industry Expert:

"Brexit may be the first thing on people's minds here in the UK at the moment, but it's the last thing on the minds of those here who are thinking about placing orders. They will place orders whether Brexit occurs or not, of course it's going to occur, it's not going to change anything, investment is long-term. Yes, there may be changes ten years from now, but it's not going to affect anything that's already here. So, I think it's the last thing on anybody's lips in terms of fearing that anything's going to happen. Though I accept there is a degree of uncertainty caused by it."

29. Wide of visitors walking through airshow, Airbus 737 MAX in background

LENGTH: 5:19

FOR CLEAN VERSION SEE STORY NUMBER: 4040484

LEAD IN:

With the prospect of Britain voting to leave Europe in just over a week, art dealers are showing caution with big purchases.

At Art Basel in Switzerland, where works from the likes of Pollock and Picasso move in multi million dollar exchanges, experts say the mood is optimistic, but subdued.

STORY-LINE:

This large, colourful abstract painting, titled Prag 1883 is by German artist Gerhard Richter.

Available for 20-million dollars, it's been brought to northwest Switzerland by New York-based Gagosian gallery.

It's just one of the pieces on show at Art Basel, the highlight of the year for art lovers and collectors.

Mitchell-Innes & Nash, also a New York-based gallery, is showing one of the famous drip paintings by American artist, Jackson Pollock.

The white, red and green drip painting, titled Number 21, is listed for 25 million dollars.

Like always, Art Basel is a celebration of the intersection between fine contemporary art and big business.

All of the 4,000 artworks, shown by 280 galleries, are for sale.

This year the total value of the art on sale exceeds 2.5 billion euros (2.8 million US dollars), according to AXA Art - an art insurer.

But the mood is somewhat dampened by a sputtering market.

In 2015 the global art market shrunk by seven percent compared to the year before, according to the annual TEAF (The European Fine Art Fair) market report.

There were still a healthy 63.8 billion euros (71.6 billion US dollars) in sales globally, but a significant downturn from the last few boom years.

"In the beginning of 2015, the first quarter, it felt as if the art market rang the bell at the top of the market," says Todd Levin, a New York-based art advisor.

"And since then the market has begun a slow but gradual correction, or slide. It is nothing serious but certainly I think that buyers are looking a little more carefully and thoughtfully."

Slide or not, the specially invited guests were still lining up on Tuesday morning (15th June 2016) to enter the fair ahead of the press and public.

Many paintings and sculptures are for sale for tens of millions of dollars.

But still, current events and political uncertainty is creating a cautious mood, according to Levin.

"Certainly Trump and the presidential elections that are coming up. But even more so Brexit. Really. At the moment it is making people concerned enough that they are thinking twice before any large purchases are made. The pound has fallen sharply in the last week. And people, as we approach Brexit in the next 10 days are taking a very cautious approach."

The Gagosian gallery is also showing a painting by American artist, Jean-Michel Basquiat.

The graffiti style New Rinso is available for 15 million dollars.

Art dealer Dominique Levy, who has galleries in both New York and London, is showing a Richter painting called "Bonley Landscape."

The oil painting depicting a mountain scene is listed at 13 million dollars.

In the top tier of the market all seems to be going quite well.

"What we are seeing now I think is a return to quality. A race for quality rather than a race for mass consumption," says Alexander Forbes, editor of Artsy art news website.

"You see that by a lot of dealers switching back to showing some more modern art. Things that have exceptional provenance. They have a real history. Artists of real quality and of a lasting nature," he says.

The global art market is still dominated by ultra-high sales, with artworks selling for over one million accounting most of the global sales in 2015, according to the TEAF report.

New York-based dealer Helly Nahmad is showing a painting by Pablo Picasso.

The "Femme assise sur un chaise" is being offered for 25 million dollars.

Hanging next to it is a masterpiece by Henri Matisse.

"Portrait au manteau bleu" is offered by the dealer for 35-million dollars.

In the past few years abstract paintings have taken up a large part of the fair.

This has changed over the last year, according to Forbes.

"You know. We had this massive trend towards abstraction. Especially you know in 2012, 13, 14. That shifted back towards figuration in painting the past couple of years," he says.

"But right now, again, across the halls here on both floors, you don't see too much of either thing. What you really see is a focus on the highest quality works. Something that Art Basel has always been particularly strong for."

There are Art Basel fairs in Miami and Hong Kong, but it is the fair in the Swiss town of Basel, where the event was founded in 1970, that draws the most high-profile galleries and collectors.

According to the annual TEAF (The European Fine Art Fair) market report, around 40 percent of all global art sales were made at art fairs in 2015.

It shows how important fairs like the Art Basel are for dealers.

"Art Basel is the Gold Standard of art fairs in the world. There is no place better and no place more important to show," says Adam Scheffer, partner at New York based dealer Cheim & Read.

"And I think that people always bring out their A-game. They put aside the best of the best to show here because it is the centre of the art world. And galleries are the centre of the art world. And it is an opportunity for education, and acquisition and all sorts of other very important aspects that truly make you, not just a buyer of art, but a collector and a connoisseur. And that is what Art Basel offers."

Art Basel, opens to the public on June 16 and runs through to June 19.

FOR CLEAN VERSION SEE STORY NUMBER: 4040484

LEAD IN:

With the prospect of Britain voting to leave Europe in just over a week, art dealers are showing caution with big purchases.

At Art Basel in Switzerland, where works from the likes of Pollock and Picasso move in multi million dollar exchanges, experts say the mood is optimistic, but subdued.

STORY-LINE:

This large, colourful abstract painting, titled Prag 1883 is by German artist Gerhard Richter.

Available for 20-million dollars, it's been brought to northwest Switzerland by New York-based Gagosian gallery.

It's just one of the pieces on show at Art Basel, the highlight of the year for art lovers and collectors.

Mitchell-Innes & Nash, also a New York-based gallery, is showing one of the famous drip paintings by American artist, Jackson Pollock.

The white, red and green drip painting, titled Number 21, is listed for 25 million dollars.

Like always, Art Basel is a celebration of the intersection between fine contemporary art and big business.

All of the 4,000 artworks, shown by 280 galleries, are for sale.

This year the total value of the art on sale exceeds 2.5 billion euros (2.8 million US dollars), according to AXA Art - an art insurer.

But the mood is somewhat dampened by a sputtering market.

In 2015 the global art market shrunk by seven percent compared to the year before, according to the annual TEAF (The European Fine Art Fair) market report.

There were still a healthy 63.8 billion euros (71.6 billion US dollars) in sales globally, but a significant downturn from the last few boom years.

"In the beginning of 2015, the first quarter, it felt as if the art market rang the bell at the top of the market," says Todd Levin, a New York-based art advisor.

"And since then the market has begun a slow but gradual correction, or slide. It is nothing serious but certainly I think that buyers are looking a little more carefully and thoughtfully."

Slide or not, the specially invited guests were still lining up on Tuesday morning (15th June 2016) to enter the fair ahead of the press and public.

Many paintings and sculptures are for sale for tens of millions of dollars.

But still, current events and political uncertainty is creating a cautious mood, according to Levin.

"Certainly Trump and the presidential elections that are coming up. But even more so Brexit. Really. At the moment it is making people concerned enough that they are thinking twice before any large purchases are made. The pound has fallen sharply in the last week. And people, as we approach Brexit in the next 10 days are taking a very cautious approach."

The Gagosian gallery is also showing a painting by American artist, Jean-Michel Basquiat.

The graffiti style New Rinso is available for 15 million dollars.

Art dealer Dominique Levy, who has galleries in both New York and London, is showing a Richter painting called "Bonley Landscape."

The oil painting depicting a mountain scene is listed at 13 million dollars.

In the top tier of the market all seems to be going quite well.

"What we are seeing now I think is a return to quality. A race for quality rather than a race for mass consumption," says Alexander Forbes, editor of Artsy art news website.

"You see that by a lot of dealers switching back to showing some more modern art. Things that have exceptional provenance. They have a real history. Artists of real quality and of a lasting nature," he says.

The global art market is still dominated by ultra-high sales, with artworks selling for over one million accounting most of the global sales in 2015, according to the TEAF report.

New York-based dealer Helly Nahmad is showing a painting by Pablo Picasso.

The "Femme assise sur un chaise" is being offered for 25 million dollars.

Hanging next to it is a masterpiece by Henri Matisse.

"Portrait au manteau bleu" is offered by the dealer for 35-million dollars.

In the past few years abstract paintings have taken up a large part of the fair.

This has changed over the last year, according to Forbes.

"You know. We had this massive trend towards abstraction. Especially you know in 2012, 13, 14. That shifted back towards figuration in painting the past couple of years," he says.

"But right now, again, across the halls here on both floors, you don't see too much of either thing. What you really see is a focus on the highest quality works. Something that Art Basel has always been particularly strong for."

There are Art Basel fairs in Miami and Hong Kong, but it is the fair in the Swiss town of Basel, where the event was founded in 1970, that draws the most high-profile galleries and collectors.

According to the annual TEAF (The European Fine Art Fair) market report, around 40 percent of all global art sales were made at art fairs in 2015.

It shows how important fairs like the Art Basel are for dealers.

"Art Basel is the Gold Standard of art fairs in the world. There is no place better and no place more important to show," says Adam Scheffer, partner at New York based dealer Cheim & Read.

"And I think that people always bring out their A-game. They put aside the best of the best to show here because it is the centre of the art world. And galleries are the centre of the art world. And it is an opportunity for education, and acquisition and all sorts of other very important aspects that truly make you, not just a buyer of art, but a collector and a connoisseur. And that is what Art Basel offers."

Art Basel, opens to the public on June 16 and runs through to June 19.

AP Television

Basel - 14 June 2016

1. Wide of "Prag 1883" by Gerhard Richter, offered for 20-million dollars

2. Various close of "Prag 1883" by Gerhard Richter, offered for 20-million dollars

3. Wide of "Mirori et Cuillere" by Juan Munoz

4. Tilt down of "Mirori et Cuillere" by Juan Munoz

5. Zoom in on "Number 21" by Jackson Pollock, offered for 25-million dollars

6. Various close of "Number 21" by Jackson Pollock, offered for 25-million dollars

7. Wide of "Number 21" by Jackson Pollock, offered for 25-million dollars

8. Exterior of Art Basel, VIP guests waiting to enter

9. Close of sign

10. Various of people entering VIP preview of Art Basel

11. People inside Art Basel halls

12. Wide of "New Rinso" by Jean-Michel Basquiat, offered for 15-million dollars

13. Various close of "New Rinso" by Jean-Michel Basquiat, offered for 15-million dollars

14. Art advisor Todd Levin speaking to woman

15. Close of Levin

16. SOUNDBITE: (English) Todd Levin, art advisor:

"In the beginning of 2015, the first quarter, it felt as if the art market rang the bell at the top of the market. And since then the market has begun a slow but gradual correction, or slide. It is nothing serious, but certainly I think that buyers are looking a little more carefully and thoughtfully."

17. People looking at "Anchorhead" statue by David Smith, offered for 7.3-million dollars

18. Various of "Anchorhead" statue by David Smith, offered for 7.3-million dollars

19. Wide of people in gallery

20. Mid of people in gallery

21. SOUNDBITE: (English) Todd Levin, art advisor:

"Certainly Trump and the presidential elections that are coming up, but even more so Brexit, really, at the moment it is making people concerned enough that they are thinking twice before any large purchases are made. The pound has fallen sharply in the last week. And people, as we approach Brexit in the next 10 days are taking a very cautious approach."

22. Woman taking photo of "OM+A" by Tony Oursler

23. Various close of "OM+A" by Tony Oursler

24. Various of "Femme assise sur un chaise" by Pablo Picasso, offered for 25-million dollars

25. Wide of "930-7 strip" by Gerhard Richter

26. Zoom out of "930-7 strip" by Gerhard Richter

27. Alexander Forbes, editor of Artsy art news website, walking next to "930-7 strip"

28. SOUNDBITE: (English) Alexander Forbes, editor of Artsy art news website:

"What we are seeing now I think is a return to quality. A race for quality rather than a race for mass consumption. You see that by a lot of dealers switching back to showing some more modern art. Things that have exceptional provenance. They have a real history. Artists of real quality and of a lasting nature."

29. Wide of "Portrait au manteau bleu" by Henri Matisse, offered for 35-million dollars

30. Various close of "Portrait au manteau bleu" by Henri Matisse, offered for 35-million dollars

31. Tilt up of sculpture

32. People at the Art Basel galleries

33. Various of people looking at "Memory Ware Flat" by Mike Kelley

34. Close pan of "Memory Ware Flat" by Mike Kelley

35. Pull focus of "Memory Ware Flat" by Mike Kelley

36. SOUNDBITE: (English) Alexander Forbes, editor of Artsy art news website:

"You know. We had this massive trend towards abstraction. Especially you know in 2012, 13, 14. That shifted back towards figuration in painting the past couple of years. But right now, again, across the halls here on both floors, you don't see too much of either thing. What you really see is a focus on the highest quality works. Something that Art Basel has always been particularly strong for."

37. Wide of "Untitled" by Joan Mitchell, offered for 5.5-million dollars

38. Various close of "Untitled" by Joan Mitchell, offered for 5.5-million dollars

39. SOUNDBITE: (English) Adam Scheffer, partner at New York based dealer Cheim & Read:

"Well, Art Basel is the Gold Standard of art fairs in the world. There is no place better and no place more important to show. And I think that people always bring out their A-game. They put aside the best of the best to show here because it is the centre of the art world. And galleries are the centre of the art world. And it is an opportunity for education, and acquisition and all sorts of other very important aspects that truly make you, not just a buyer of art, but a collector and a connoisseur. And that is what Art Basel offers."

40. Wide of "Bonley Landscape" by Gerhard Richter, offered for 13-million dollars

41. Zoom in of "Bonley Landscape" by Gerhard Richter

42. Various wide of people in Art Basel galleries

LENGTH: 7:03

FOR CLEAN VERSION SEE STORY NUMBER: 4042332

Republican presumptive presidential nominee Donald Trump visited a second golf course he owns in Scotland on Saturday, landing via helicopter two days after the United Kingdom voted to leave to European Union.

Trump welcomed Britain's vote to leave the European Union, saying the British people "will be happy in the long-term."

This is Trump's first international trip since sealing sufficient delegate support to be the Republican Party's presidential nominee.

The timing of the trip has raised eyebrows among some fellow Republicans as it comes amid a rocky stretch for his campaign.

Trump isn't slated to meet any political leaders while in Scotland.

FOR CLEAN VERSION SEE STORY NUMBER: 4042332

Republican presumptive presidential nominee Donald Trump visited a second golf course he owns in Scotland on Saturday, landing via helicopter two days after the United Kingdom voted to leave to European Union.

Trump welcomed Britain's vote to leave the European Union, saying the British people "will be happy in the long-term."

This is Trump's first international trip since sealing sufficient delegate support to be the Republican Party's presidential nominee.

The timing of the trip has raised eyebrows among some fellow Republicans as it comes amid a rocky stretch for his campaign.

Trump isn't slated to meet any political leaders while in Scotland.

++QUALITY AS INCOMING++

POOL

Aberdeen, Scotland - 25 June 2016

1. Various of Trump's helicopter arriving at Turnberry Golf Resort

2. Various of Republican presumptive nominee Donald Trump getting out of helicopter and greeting resort staff

3. Trump surrounded by media, UPSOUND (English) Journalist: "Mr. Trump, what did you think about the stock markets drop yesterday after the Brexit?

UPSOUND (English) Donald Trump, (R) Presumptive Nominee:

"I think it's too bad, a lot of bad decision, a lot of bad things happening in this world."

UPSOUND (English) Journalist: What's your thought on Brexit?

UPSOUND (English) Trump:

"Well, I think people have to make their decision. They made the decision I thought they would and long-term, I think they'll be happy."

UPSOUND (English) Journalist:

"As a businessman, does it bother you to see the turmoil we see in the markets?

UPSOUND (English) Trump:

"Well, there's always turmoil, no matter where you go, no matter what you do but they (the UK) had to make their decision and they made their decision. A lot of people thought that was the decision they'd make."

++WHITE FLASH++

UPSOUND (English) Trump:

"I think that they have to just get their act in and make it work, but they want to have their own independence, you know, they want to be independent and that's what it is. But this is an amazing place, an amazing country and it's going to be very successful, ultimately, but they want to be able to move, they want the people they want to come in."

++WHITE FLASH++

UPSOUND (English) Journalist: (Do you think) other countries will follow Brexit? France, Italy, Spain...

UPSOUND (English) Trump:

"I think it's going to be in a lot of trouble, I think a lot of other people will follow. I think you're gonna see that. I mean, I believe you'll see; I'm the one who said this was going to happen, I believe you're going to see other people do the same (inaudible)."

++WHITE FLASH++

UPSOUND (English) Journalist: (You've been talking a little bit about how some people in England, Great Britain in general want to their independence; if people at home, in Texas, were to want to secede from the United States for the same the reasons...some in Great Britain say there's too much direction coming from Brussels, and some in Texas say too much coming from Washington. Would you feel the same way, say if they want to do it, they should?)

UPSOUND (English) Trump:

"Texas will never do that because Texas loves me."

US presumptive Republican presidential nominee Donald Trump visited a second golf course he owns in Scotland on Saturday, landing via helicopter two days after the United Kingdom had voted to leave to European Union.

Trump welcomed Britain's vote to leave the European Union, saying the British people "will be happy on a long term".

This is Trump's first international trip since sealing sufficient delegate support to be the Republican Party's standard-bearer this fall.

The timing of the trip has raised eyebrows among some fellow Republicans as it comes amid a rocky stretch for his campaign.

Trump isn't slated to meet with any political leaders while in Scotland.

US presumptive Republican presidential nominee Donald Trump visited a second golf course he owns in Scotland on Saturday, landing via helicopter two days after the United Kingdom had voted to leave to European Union.

Trump welcomed Britain's vote to leave the European Union, saying the British people "will be happy on a long term".

This is Trump's first international trip since sealing sufficient delegate support to be the Republican Party's standard-bearer this fall.

The timing of the trip has raised eyebrows among some fellow Republicans as it comes amid a rocky stretch for his campaign.

Trump isn't slated to meet with any political leaders while in Scotland.

++CLIENTS PLEASE USE THIS UPDATED VIDEO VERSION++

US POOL

Aberdeen, Scotland - 25 June 2016

1. Wide of 'Trump' helicopter at Turnberry golf resort

2. US Presumptive Republican nominee Donald Trump gets out of helicopter and is being greeted by resort staff members

2. Trump greeting resort staff members

3. Trump speaking to resort staff members,

UPSOUND (English) Journalist: "Mr. Trump, what did you think about the stock markets drop yesterday after the Brexit?

UPSOUND (English) Trump: "I think it's too bad, a lot of bad decision, a lot of bad things happening in this world. "

UPSOUND (English) Journalist: What's your thought on Brexit?

UPSOUND (English) Trump: "Well, I think people have to make their decision and on a long-term, I think they'll be happy."

UPSOUND (English) Journalist: As a businessman, does it bother you to see the turmoil we see in the markets?

UPSOUND (English) Trump: "Well, there's always turmoil, no matter where you go, no matter what you do but they (the UK) had to make their decision. A lot of people thought that was the decision they made."

++BLACK FRAMES++

UPSOUND (English) Trump: "I think that they have to just get their act in, make it work, but they want to have their own independence, you know, they want to be independent and that's what it is. But this is an amazing place, an amazing country and it's going to be very successful. They want to be able to rule, they want the people they want to come in."

++BLACK FRAMES++

UPSOUND (English) Journalist: (Do you think) other countries will follow Brexit? France, Italy, Spain...

UPSOUND (English) Trump: "I think it's going to be in a lot of trouble, I think a lot of other people will follow. I believe you'll see, I'm the one who said this was going to happen, I believe you're going to see other people (inaudible)."

Rob Warnock is a proud British farmer and the son of a proud British farmer. One day, he hopes to be the father of a proud British farmer, too.

He's also a European Union farmer, but that is not a legacy Warnock wants to pass on to his 6-year-old son.

The 44-year-old plans to vote this week for Britain to leave the EU, even though he knows it will cost his struggling dairy business dear.

Many British farmers feel the same emotional tug. But while their hearts tell them to leave, their heads urge caution. The EU is helping farmers stay afloat at a time when many are struggling.

The benefits of membership in the 28-nation EU may seem intangible to many Britons, who view it as a distant body of Byzantine bureaucracy and obscure regulations.

But farmers know exactly how much they get from the bloc. In Warnock's case it's about 40-thousand pounds (60-thousand US dollars) a year - his share of the subsidy millions of farmers across the continent receive under the EU's Common Agricultural Policy.

"Well I think the EU really holds us back as a nation. Our milk prices, which have been documented, are very low in the UK," he says.

"And I just feel that we can make our own trade deals outside the EU with other countries around the world which I think long term will benefit all the farmers in the country."

He desperately needs things to improve. The price of milk has been plunging for more than two years, hit by what Warnock calls a "perfect storm" of factors, including Russia's ban on EU imports, Chinese stockpiling of powdered milk and production increases in other EU countries.

That is disastrous for Warnock, who tends 450 dairy cows and grows barley and wheat on 650 acres (263 hectares) perched above the English Channel on Britain's south coast.

Warnock's father Jim is not so sure. He intends to vote "remain," worried the subsidies will disappear.

"I know they are saying at the moment if there is a change then we will still get it," he said. "But knowing politicians and knowing the pressure they are going to be under..."

"Leave" campaigners have vowed that the British government will step in to support farmers if the country leaves the EU. The "remain" camp says the pledge is unrealistic: the "leave" side has also promised to boost funding for the health service, maintain defence spending and much more, at a time when the government is committed to cutting public-sector spending.

Farmers have a long list of complaints about the EU, from its complex paperwork to its environmental regulations, which limit which fertilizers and pesticides they can use.

British governments in recent decades have taken a comparatively laissez-faire attitude to agriculture, reluctant to shield domestic producers from international competition.

It's a different story across the Channel in France, where agriculture accounts for a bigger slice of the economy and looms larger in the national consciousness. Militant French farmers regularly stage protests - blocking roads, dumping manure and even herding sheep in the Louvre museum to demand more support from the government.

The National Farmers Union has come out broadly pro-remain, but understands that the community is split.

"Our council met in April, discussed at great length the issues, very good debate, and they came up with the line that basically, on the balance of probabilities as we know it, at the moment farmers are best served to remain within the EU. However individual businesses may differ from that line," says Matt Ware, Head of Government and Parliamentary affairs of the National Farmers Union.

Back on the farm Warnock believes the years of ups and downs have made British farmers resilient. He describes himself as a "passionate dairy farmer" - but worries that if something doesn't change soon, passion may not be enough.

Two decades ago there were more than 35-thousand dairy farmers in Britain.

Today there are only about 10-thousand, and the NFU has estimated that 10 to 20 per cent could go out of business by the end of 2016.

Rob Warnock is a proud British farmer and the son of a proud British farmer. One day, he hopes to be the father of a proud British farmer, too.

He's also a European Union farmer, but that is not a legacy Warnock wants to pass on to his 6-year-old son.

The 44-year-old plans to vote this week for Britain to leave the EU, even though he knows it will cost his struggling dairy business dear.

Many British farmers feel the same emotional tug. But while their hearts tell them to leave, their heads urge caution. The EU is helping farmers stay afloat at a time when many are struggling.

The benefits of membership in the 28-nation EU may seem intangible to many Britons, who view it as a distant body of Byzantine bureaucracy and obscure regulations.

But farmers know exactly how much they get from the bloc. In Warnock's case it's about 40-thousand pounds (60-thousand US dollars) a year - his share of the subsidy millions of farmers across the continent receive under the EU's Common Agricultural Policy.

"Well I think the EU really holds us back as a nation. Our milk prices, which have been documented, are very low in the UK," he says.

"And I just feel that we can make our own trade deals outside the EU with other countries around the world which I think long term will benefit all the farmers in the country."

He desperately needs things to improve. The price of milk has been plunging for more than two years, hit by what Warnock calls a "perfect storm" of factors, including Russia's ban on EU imports, Chinese stockpiling of powdered milk and production increases in other EU countries.

That is disastrous for Warnock, who tends 450 dairy cows and grows barley and wheat on 650 acres (263 hectares) perched above the English Channel on Britain's south coast.

Warnock's father Jim is not so sure. He intends to vote "remain," worried the subsidies will disappear.

"I know they are saying at the moment if there is a change then we will still get it," he said. "But knowing politicians and knowing the pressure they are going to be under..."

"Leave" campaigners have vowed that the British government will step in to support farmers if the country leaves the EU. The "remain" camp says the pledge is unrealistic: the "leave" side has also promised to boost funding for the health service, maintain defence spending and much more, at a time when the government is committed to cutting public-sector spending.

Farmers have a long list of complaints about the EU, from its complex paperwork to its environmental regulations, which limit which fertilizers and pesticides they can use.

British governments in recent decades have taken a comparatively laissez-faire attitude to agriculture, reluctant to shield domestic producers from international competition.

It's a different story across the Channel in France, where agriculture accounts for a bigger slice of the economy and looms larger in the national consciousness. Militant French farmers regularly stage protests - blocking roads, dumping manure and even herding sheep in the Louvre museum to demand more support from the government.

The National Farmers Union has come out broadly pro-remain, but understands that the community is split.

"Our council met in April, discussed at great length the issues, very good debate, and they came up with the line that basically, on the balance of probabilities as we know it, at the moment farmers are best served to remain within the EU. However individual businesses may differ from that line," says Matt Ware, Head of Government and Parliamentary affairs of the National Farmers Union.

Back on the farm Warnock believes the years of ups and downs have made British farmers resilient. He describes himself as a "passionate dairy farmer" - but worries that if something doesn't change soon, passion may not be enough.

Two decades ago there were more than 35-thousand dairy farmers in Britain.

Today there are only about 10-thousand, and the NFU has estimated that 10 to 20 per cent could go out of business by the end of 2016.

Folkestone, UK - 16 June, 2016

1. Various of cows being milked

2. Farmer Rob Warnock milking cow

3. Milk bottle being filled

4. Various of farmer Rob Warnock milking cow

5. Will Warnock, brother of Rob, by cows

6. Various of farmer Rob Warnock walking with cows in field

7. SOUNDBITE (English): Rob Warnock, farmer

"Well I think the EU really holds us back as a nation. Our milk prices, which have been documented, are very low in the UK. And I just feel that we can make our own trade deals outside the EU with other countries around the world which I think long term will benefit all the farmers in the country."

8. Cows

9. SOUNDBITE (English): Rob Warnock, farmer

"That subsidy currently to our own business is not going to mean the difference to whether we survive or go out of business. It's equivalent to a couple of pence a metre on our milk cheque."

10. Farmhouse and sheep

11. Farmer Rob Warnock and his father Jim Warnock, also a farmer

12. Sheep in field

13. SOUNDBITE (English): Jim Warnock, farmer, father of Rob

"From a farming point of view the pot of money that we get each year, you know, to keep the whole farming system going could very well go. I know they are saying at the moment if there is a change then we will still get it. But knowing politicians and knowing the pressure they are going to be under."

14. Various of tractor being driven in field

London, UK - 16 June, 2016

15. Set up of Matt Ware, Head of Government and Parliamentary affairs, National Farmers Union (NFU)

16. SOUNDBITE (English): Matt Ware, Head of Government and Parliamentary affairs, National Farmers Union

"The NFU represents farmers and growers from across the country and we represent a huge range of growers, and huge range of views and businesses so we reflect that in our view. Our council met in April, discussed at great length the issues, very good debate and they came up with the line that basically, on the balance of probabilities as we know it, at the moment farmers are best served to remain within the EU. However individual businesses may differ from that line."

17. Cutaway

18. SOUNDBITE (English): Matt Ware, Head of Government and Parliamentary affairs, National Farmers Union

"The agriculture community reflects the wider community, people have there own personal views, but our job is to inform them on how it will impact on agricultural issues, and to be there to look after their best interests."

19. Cutaway

LEAD IN:

With the prospect of Britain voting to leave Europe in just over a week, art dealers are showing caution with big purchases.

At Art Basel in Switzerland, where works from the likes of Pollock and Picasso move in multi million dollar exchanges, experts say the mood is optimistic, but subdued.

STORY-LINE:

This large, colourful abstract painting, titled Prag 1883 is by German artist Gerhard Richter.

Available for 20-million dollars, it's been brought to northwest Switzerland by New York-based Gagosian gallery.

It's just one of the pieces on show at Art Basel, the highlight of the year for art lovers and collectors.

Mitchell-Innes & Nash, also a New York-based gallery, is showing one of the famous drip paintings by American artist, Jackson Pollock.

The white, red and green drip painting, titled Number 21, is listed for 25 million dollars.

Like always, Art Basel is a celebration of the intersection between fine contemporary art and big business.

All of the 4,000 artworks, shown by 280 galleries, are for sale.

This year the total value of the art on sale exceeds 2.5 billion euros (2.8 million US dollars), according to AXA Art - an art insurer.

But the mood is somewhat dampened by a sputtering market.

In 2015 the global art market shrunk by seven percent compared to the year before, according to the annual TEAF (The European Fine Art Fair) market report.

There were still a healthy 63.8 billion euros (71.6 billion US dollars) in sales globally, but a significant downturn from the last few boom years.

"In the beginning of 2015, the first quarter, it felt as if the art market rang the bell at the top of the market," says Todd Levin, a New York-based art advisor.

"And since then the market has begun a slow but gradual correction, or slide. It is nothing serious but certainly I think that buyers are looking a little more carefully and thoughtfully."

Slide or not, the specially invited guests were still lining up on Tuesday morning (15th June 2016) to enter the fair ahead of the press and public.

Many paintings and sculptures are for sale for tens of millions of dollars.

But still, current events and political uncertainty is creating a cautious mood, according to Levin.

"Certainly Trump and the presidential elections that are coming up. But even more so Brexit. Really. At the moment it is making people concerned enough that they are thinking twice before any large purchases are made. The pound has fallen sharply in the last week. And people, as we approach Brexit in the next 10 days are taking a very cautious approach."

The Gagosian gallery is also showing a painting by American artist, Jean-Michel Basquiat.

The graffiti style New Rinso is available for 15 million dollars.

Art dealer Dominique Levy, who has galleries in both New York and London, is showing a Richter painting called "Bonley Landscape."

The oil painting depicting a mountain scene is listed at 13 million dollars.

In the top tier of the market all seems to be going quite well.

"What we are seeing now I think is a return to quality. A race for quality rather than a race for mass consumption," says Alexander Forbes, editor of Artsy art news website.

"You see that by a lot of dealers switching back to showing some more modern art. Things that have exceptional provenance. They have a real history. Artists of real quality and of a lasting nature," he says.

The global art market is still dominated by ultra-high sales, with artworks selling for over one million accounting most of the global sales in 2015, according to the TEAF report.

New York-based dealer Helly Nahmad is showing a painting by Pablo Picasso.

The "Femme assise sur un chaise" is being offered for 25 million dollars.

Hanging next to it is a masterpiece by Henri Matisse.

"Portrait au manteau bleu" is offered by the dealer for 35-million dollars.

In the past few years abstract paintings have taken up a large part of the fair.

This has changed over the last year, according to Forbes.

"You know. We had this massive trend towards abstraction. Especially you know in 2012, 13, 14. That shifted back towards figuration in painting the past couple of years," he says.

"But right now, again, across the halls here on both floors, you don't see too much of either thing. What you really see is a focus on the highest quality works. Something that Art Basel has always been particularly strong for."

There are Art Basel fairs in Miami and Hong Kong, but it is the fair in the Swiss town of Basel, where the event was founded in 1970, that draws the most high-profile galleries and collectors.

According to the annual TEAF (The European Fine Art Fair) market report, around 40 percent of all global art sales were made at art fairs in 2015.

It shows how important fairs like the Art Basel are for dealers.

"Art Basel is the Gold Standard of art fairs in the world. There is no place better and no place more important to show," says Adam Scheffer, partner at New York based dealer Cheim & Read.

"And I think that people always bring out their A-game. They put aside the best of the best to show here because it is the centre of the art world. And galleries are the centre of the art world. And it is an opportunity for education, and acquisition and all sorts of other very important aspects that truly make you, not just a buyer of art, but a collector and a connoisseur. And that is what Art Basel offers."

Art Basel, opens to the public on June 16 and runs through to June 19.

LEAD IN:

With the prospect of Britain voting to leave Europe in just over a week, art dealers are showing caution with big purchases.

At Art Basel in Switzerland, where works from the likes of Pollock and Picasso move in multi million dollar exchanges, experts say the mood is optimistic, but subdued.

STORY-LINE:

This large, colourful abstract painting, titled Prag 1883 is by German artist Gerhard Richter.

Available for 20-million dollars, it's been brought to northwest Switzerland by New York-based Gagosian gallery.

It's just one of the pieces on show at Art Basel, the highlight of the year for art lovers and collectors.

Mitchell-Innes & Nash, also a New York-based gallery, is showing one of the famous drip paintings by American artist, Jackson Pollock.

The white, red and green drip painting, titled Number 21, is listed for 25 million dollars.

Like always, Art Basel is a celebration of the intersection between fine contemporary art and big business.

All of the 4,000 artworks, shown by 280 galleries, are for sale.

This year the total value of the art on sale exceeds 2.5 billion euros (2.8 million US dollars), according to AXA Art - an art insurer.

But the mood is somewhat dampened by a sputtering market.

In 2015 the global art market shrunk by seven percent compared to the year before, according to the annual TEAF (The European Fine Art Fair) market report.

There were still a healthy 63.8 billion euros (71.6 billion US dollars) in sales globally, but a significant downturn from the last few boom years.

"In the beginning of 2015, the first quarter, it felt as if the art market rang the bell at the top of the market," says Todd Levin, a New York-based art advisor.

"And since then the market has begun a slow but gradual correction, or slide. It is nothing serious but certainly I think that buyers are looking a little more carefully and thoughtfully."

Slide or not, the specially invited guests were still lining up on Tuesday morning (15th June 2016) to enter the fair ahead of the press and public.

Many paintings and sculptures are for sale for tens of millions of dollars.

But still, current events and political uncertainty is creating a cautious mood, according to Levin.

"Certainly Trump and the presidential elections that are coming up. But even more so Brexit. Really. At the moment it is making people concerned enough that they are thinking twice before any large purchases are made. The pound has fallen sharply in the last week. And people, as we approach Brexit in the next 10 days are taking a very cautious approach."

The Gagosian gallery is also showing a painting by American artist, Jean-Michel Basquiat.

The graffiti style New Rinso is available for 15 million dollars.

Art dealer Dominique Levy, who has galleries in both New York and London, is showing a Richter painting called "Bonley Landscape."

The oil painting depicting a mountain scene is listed at 13 million dollars.

In the top tier of the market all seems to be going quite well.

"What we are seeing now I think is a return to quality. A race for quality rather than a race for mass consumption," says Alexander Forbes, editor of Artsy art news website.

"You see that by a lot of dealers switching back to showing some more modern art. Things that have exceptional provenance. They have a real history. Artists of real quality and of a lasting nature," he says.

The global art market is still dominated by ultra-high sales, with artworks selling for over one million accounting most of the global sales in 2015, according to the TEAF report.

New York-based dealer Helly Nahmad is showing a painting by Pablo Picasso.

The "Femme assise sur un chaise" is being offered for 25 million dollars.

Hanging next to it is a masterpiece by Henri Matisse.

"Portrait au manteau bleu" is offered by the dealer for 35-million dollars.

In the past few years abstract paintings have taken up a large part of the fair.

This has changed over the last year, according to Forbes.

"You know. We had this massive trend towards abstraction. Especially you know in 2012, 13, 14. That shifted back towards figuration in painting the past couple of years," he says.

"But right now, again, across the halls here on both floors, you don't see too much of either thing. What you really see is a focus on the highest quality works. Something that Art Basel has always been particularly strong for."

There are Art Basel fairs in Miami and Hong Kong, but it is the fair in the Swiss town of Basel, where the event was founded in 1970, that draws the most high-profile galleries and collectors.

According to the annual TEAF (The European Fine Art Fair) market report, around 40 percent of all global art sales were made at art fairs in 2015.

It shows how important fairs like the Art Basel are for dealers.

"Art Basel is the Gold Standard of art fairs in the world. There is no place better and no place more important to show," says Adam Scheffer, partner at New York based dealer Cheim & Read.

"And I think that people always bring out their A-game. They put aside the best of the best to show here because it is the centre of the art world. And galleries are the centre of the art world. And it is an opportunity for education, and acquisition and all sorts of other very important aspects that truly make you, not just a buyer of art, but a collector and a connoisseur. And that is what Art Basel offers."

Art Basel, opens to the public on June 16 and runs through to June 19.

AP Television

Basel - 14 June 2016

1. Wide of "Prag 1883" by Gerhard Richter, offered for 20-million dollars

2. Various close of "Prag 1883" by Gerhard Richter, offered for 20-million dollars

3. Wide of "Mirori et Cuillere" by Juan Munoz

4. Tilt down of "Mirori et Cuillere" by Juan Munoz

5. Zoom in on "Number 21" by Jackson Pollock, offered for 25-million dollars

6. Various close of "Number 21" by Jackson Pollock, offered for 25-million dollars

7. Wide of "Number 21" by Jackson Pollock, offered for 25-million dollars

8. Exterior of Art Basel, VIP guests waiting to enter

9. Close of sign

10. Various of people entering VIP preview of Art Basel

11. People inside Art Basel halls

12. Wide of "New Rinso" by Jean-Michel Basquiat, offered for 15-million dollars

13. Various close of "New Rinso" by Jean-Michel Basquiat, offered for 15-million dollars

14. Art advisor Todd Levin speaking to woman

15. Close of Levin

16. SOUNDBITE: (English) Todd Levin, art advisor:

"In the beginning of 2015, the first quarter, it felt as if the art market rang the bell at the top of the market. And since then the market has begun a slow but gradual correction, or slide. It is nothing serious, but certainly I think that buyers are looking a little more carefully and thoughtfully."

17. People looking at "Anchorhead" statue by David Smith, offered for 7.3-million dollars

18. Various of "Anchorhead" statue by David Smith, offered for 7.3-million dollars

19. Wide of people in gallery

20. Mid of people in gallery

21. SOUNDBITE: (English) Todd Levin, art advisor:

"Certainly Trump and the presidential elections that are coming up, but even more so Brexit, really, at the moment it is making people concerned enough that they are thinking twice before any large purchases are made. The pound has fallen sharply in the last week. And people, as we approach Brexit in the next 10 days are taking a very cautious approach."

22. Woman taking photo of "OM+A" by Tony Oursler

23. Various close of "OM+A" by Tony Oursler

24. Various of "Femme assise sur un chaise" by Pablo Picasso, offered for 25-million dollars

25. Wide of "930-7 strip" by Gerhard Richter

26. Zoom out of "930-7 strip" by Gerhard Richter

27. Alexander Forbes, editor of Artsy art news website, walking next to "930-7 strip"

28. SOUNDBITE: (English) Alexander Forbes, editor of Artsy art news website:

"What we are seeing now I think is a return to quality. A race for quality rather than a race for mass consumption. You see that by a lot of dealers switching back to showing some more modern art. Things that have exceptional provenance. They have a real history. Artists of real quality and of a lasting nature."

29. Wide of "Portrait au manteau bleu" by Henri Matisse, offered for 35-million dollars

30. Various close of "Portrait au manteau bleu" by Henri Matisse, offered for 35-million dollars

31. Tilt up of sculpture

32. People at the Art Basel galleries

33. Various of people looking at "Memory Ware Flat" by Mike Kelley

34. Close pan of "Memory Ware Flat" by Mike Kelley

35. Pull focus of "Memory Ware Flat" by Mike Kelley

36. SOUNDBITE: (English) Alexander Forbes, editor of Artsy art news website:

"You know. We had this massive trend towards abstraction. Especially you know in 2012, 13, 14. That shifted back towards figuration in painting the past couple of years. But right now, again, across the halls here on both floors, you don't see too much of either thing. What you really see is a focus on the highest quality works. Something that Art Basel has always been particularly strong for."

37. Wide of "Untitled" by Joan Mitchell, offered for 5.5-million dollars

38. Various close of "Untitled" by Joan Mitchell, offered for 5.5-million dollars

39. SOUNDBITE: (English) Adam Scheffer, partner at New York based dealer Cheim & Read:

"Well, Art Basel is the Gold Standard of art fairs in the world. There is no place better and no place more important to show. And I think that people always bring out their A-game. They put aside the best of the best to show here because it is the centre of the art world. And galleries are the centre of the art world. And it is an opportunity for education, and acquisition and all sorts of other very important aspects that truly make you, not just a buyer of art, but a collector and a connoisseur. And that is what Art Basel offers."

40. Wide of "Bonley Landscape" by Gerhard Richter, offered for 13-million dollars

41. Zoom in of "Bonley Landscape" by Gerhard Richter

42. Various wide of people in Art Basel galleries

LENGTH: 7:03