Germany hopes Britain can remain in the European Union (EU), as the country’s head of state and many political analysts have called.

During a joint press conference after the talks with Slovakian Prime Minister Robert Fico a week ago in Berlin, the German Chancellor Angela Merkel said: “All aspects of the EU’s domestic market, and the benefits shared by all EU members, will no longer be available for Britain if it votes to leave. All forms of negotiations conducted by the EU, which is on behalf of all its 28 members will become the negotiations between the 27 members and a third party. I can hardly imagine what benefit would come out of this.”

Describing Britain as “a powerful partner and ally” to Germany in the EU, Tanja Boerzel, a professor with the school of politics of the Free University of Berlin, said that possible Brexit will disintegrate the EU, a scenario Germany does not want to witness, especially at a time when the EU is struggling with economic and political challenges.

"Britain’s referendum can’t be taken out of the context of what is happening in Europe, or even in the whole world. It is in relation to the fear of globalization. People worry about declining social status, living standards and cultural identification. However, these are the challenges that can’t be avoided in globalization, and the integration of Europe has been widely regarded as part of globalization," said Boerzel.

If Britain leaves the bloc, Germany will become the biggest victim of it, according to Boerzel.

"Southern European countries led by France stress on government’s interference to market, while German and Britain pursue free market. If Britain leaves the EU, Germany will lose an important partner in terms of economic perspectives and policies on national budget and expenditure. Compared with France, Germany shares more consensuses with Britain when it comes to economic policies," she said.

Some experts predicted that the UK would continue its membership in the European Economic Area (EEA) to continue its free trading with other EU members if it leaves the bloc. Boerzel, however, said the move is actually not the best option for the UK.

"The current problem is that how can the British government convince its people that it is a wise decision to stay inside the domestic market by accessing into the EEA after Brexit. However, that means Britain must join the Schengen area and must follow a lot more rules than the existing ones in domestic market, in other words, the excuses and reasons Britain has used to back up Brexit will eventually lead to heavier burden for Britain in the future," said Boerzel.

A public opinion poll conducted in Germany has shown that 58 percent of the German citizens who took part in the poll voted against Brexit, while only seven percent of the participants voted in favor.

Germany hopes Britain can remain in the European Union (EU), as the country’s head of state and many political analysts have called.

During a joint press conference after the talks with Slovakian Prime Minister Robert Fico a week ago in Berlin, the German Chancellor Angela Merkel said: “All aspects of the EU’s domestic market, and the benefits shared by all EU members, will no longer be available for Britain if it votes to leave. All forms of negotiations conducted by the EU, which is on behalf of all its 28 members will become the negotiations between the 27 members and a third party. I can hardly imagine what benefit would come out of this.”

Describing Britain as “a powerful partner and ally” to Germany in the EU, Tanja Boerzel, a professor with the school of politics of the Free University of Berlin, said that possible Brexit will disintegrate the EU, a scenario Germany does not want to witness, especially at a time when the EU is struggling with economic and political challenges.

"Britain’s referendum can’t be taken out of the context of what is happening in Europe, or even in the whole world. It is in relation to the fear of globalization. People worry about declining social status, living standards and cultural identification. However, these are the challenges that can’t be avoided in globalization, and the integration of Europe has been widely regarded as part of globalization," said Boerzel.

If Britain leaves the bloc, Germany will become the biggest victim of it, according to Boerzel.

"Southern European countries led by France stress on government’s interference to market, while German and Britain pursue free market. If Britain leaves the EU, Germany will lose an important partner in terms of economic perspectives and policies on national budget and expenditure. Compared with France, Germany shares more consensuses with Britain when it comes to economic policies," she said.

Some experts predicted that the UK would continue its membership in the European Economic Area (EEA) to continue its free trading with other EU members if it leaves the bloc. Boerzel, however, said the move is actually not the best option for the UK.

"The current problem is that how can the British government convince its people that it is a wise decision to stay inside the domestic market by accessing into the EEA after Brexit. However, that means Britain must join the Schengen area and must follow a lot more rules than the existing ones in domestic market, in other words, the excuses and reasons Britain has used to back up Brexit will eventually lead to heavier burden for Britain in the future," said Boerzel.

A public opinion poll conducted in Germany has shown that 58 percent of the German citizens who took part in the poll voted against Brexit, while only seven percent of the participants voted in favor.

Germany hopes Britain can remain in the European Union (EU), as the country’s head of state and many political analysts have called.

During a joint press conference after the talks with Slovakian Prime Minister Robert Fico a week ago in Berlin, the German Chancellor Angela Merkel said: “All aspects of the EU’s domestic market, and the benefits shared by all EU members, will no longer be available for Britain if it votes to leave. All forms of negotiations conducted by the EU, which is on behalf of all its 28 members will become the negotiations between the 27 members and a third party. I can hardly imagine what benefit would come out of this.”

Describing Britain as “a powerful partner and ally” to Germany in the EU, Tanja Boerzel, a professor with the school of politics of the Free University of Berlin, said that possible Brexit will disintegrate the EU, a scenario Germany does not want to witness, especially at a time when the EU is struggling with economic and political challenges.

"Britain’s referendum can’t be taken out of the context of what is happening in Europe, or even in the whole world. It is in relation to the fear of globalization. People worry about declining social status, living standards and cultural identification. However, these are the challenges that can’t be avoided in globalization, and the integration of Europe has been widely regarded as part of globalization," said Boerzel.

If Britain leaves the bloc, Germany will become the biggest victim of it, according to Boerzel.

"Southern European countries led by France stress on government’s interference to market, while German and Britain pursue free market. If Britain leaves the EU, Germany will lose an important partner in terms of economic perspectives and policies on national budget and expenditure. Compared with France, Germany shares more consensuses with Britain when it comes to economic policies," she said.

Some experts predicted that the UK would continue its membership in the European Economic Area (EEA) to continue its free trading with other EU members if it leaves the bloc. Boerzel, however, said the move is actually not the best option for the UK.

"The current problem is that how can the British government convince its people that it is a wise decision to stay inside the domestic market by accessing into the EEA after Brexit. However, that means Britain must join the Schengen area and must follow a lot more rules than the existing ones in domestic market, in other words, the excuses and reasons Britain has used to back up Brexit will eventually lead to heavier burden for Britain in the future," said Boerzel.

A public opinion poll conducted in Germany has shown that 58 percent of the German citizens who took part in the poll voted against Brexit, while only seven percent of the participants voted in favor.

Germany hopes Britain can remain in the European Union (EU), as the country’s head of state and many political analysts have called.

During a joint press conference after the talks with Slovakian Prime Minister Robert Fico a week ago in Berlin, the German Chancellor Angela Merkel said: “All aspects of the EU’s domestic market, and the benefits shared by all EU members, will no longer be available for Britain if it votes to leave. All forms of negotiations conducted by the EU, which is on behalf of all its 28 members will become the negotiations between the 27 members and a third party. I can hardly imagine what benefit would come out of this.”

Describing Britain as “a powerful partner and ally” to Germany in the EU, Tanja Boerzel, a professor with the school of politics of the Free University of Berlin, said that possible Brexit will disintegrate the EU, a scenario Germany does not want to witness, especially at a time when the EU is struggling with economic and political challenges.

"Britain’s referendum can’t be taken out of the context of what is happening in Europe, or even in the whole world. It is in relation to the fear of globalization. People worry about declining social status, living standards and cultural identification. However, these are the challenges that can’t be avoided in globalization, and the integration of Europe has been widely regarded as part of globalization," said Boerzel.

If Britain leaves the bloc, Germany will become the biggest victim of it, according to Boerzel.

"Southern European countries led by France stress on government’s interference to market, while German and Britain pursue free market. If Britain leaves the EU, Germany will lose an important partner in terms of economic perspectives and policies on national budget and expenditure. Compared with France, Germany shares more consensuses with Britain when it comes to economic policies," she said.

Some experts predicted that the UK would continue its membership in the European Economic Area (EEA) to continue its free trading with other EU members if it leaves the bloc. Boerzel, however, said the move is actually not the best option for the UK.

"The current problem is that how can the British government convince its people that it is a wise decision to stay inside the domestic market by accessing into the EEA after Brexit. However, that means Britain must join the Schengen area and must follow a lot more rules than the existing ones in domestic market, in other words, the excuses and reasons Britain has used to back up Brexit will eventually lead to heavier burden for Britain in the future," said Boerzel.

A public opinion poll conducted in Germany has shown that 58 percent of the German citizens who took part in the poll voted against Brexit, while only seven percent of the participants voted in favor.

Berlin, Germany - June 16, 2016

1. German Chancellor Angela Merkel, Slovakian Prime Minister Robert Fico at joint press conference

2. SOUNDBITE (German) Angela Merkel, German Chancellor:

"All aspects of the EU’s domestic market, and the benefits shared by all EU members, will no longer be available for Britain if it votes to leave. All forms of negotiations conducted by the EU, which is on behalf of all its 28 members will become the negotiations between the 27 members and a third party. I can hardly imagine what benefit would come out of this.”

Berlin, Germany - June 22, 2016

3. Various of German, EU flags

4. SOUNDBITE (German) Tanja Boerzel, professor, school of politics, Free University of Berlin:

"Britain’s referendum can’t be taken out of the context of what is happening in Europe, or even in the whole world. It is in relation to the fear of globalization. People worry about declining social status, living standards and cultural identification. However, these are the challenges that can’t be avoided in globalization, and the integration of Europe has been widely regarded as part of globalization."

London, UK - June 15, 2016

5. Various of Brexit supporters campaigning on the Thames

Berlin, Germany - June 22, 2016

6. SOUNDBITE (German) Tanja Boerzel, professor, school of politics, Free University of Berlin:

"Southern European countries led by France stress on government’s interference to market, while German and Britain pursue free market. If Britain leaves the EU, Germany will lose an important partner in terms of economic perspectives and policies on national budget and expenditure. Compared with France, Germany shares more consensuses with Britain when it comes to economic policies."

London, UK - June 15, 2016

7. Various of Brexit supporters campaigning on the Thames

Berlin, Germany - June 22, 2016

8. SOUNDBITE (German) Tanja Boerzel, professor, school of politics, Free University of Berlin:

"The current problem is that how can the British government convince its people that it is a wise decision to stay inside the domestic market by accessing into the EEA after Brexit. However, that means Britain must join the Schengen area and must follow a lot more rules than the existing ones in domestic market, in other words, the excuses and reasons Britain has used to back up Brexit will eventually lead to heavier burden for Britain in the future."

London, UK - June 15, 2016

9. Various of people demonstrating over bridge

The head of the global economic forum OECD warned Britain that leaving the European Union would be tantamount to taxing its citizens - another in a growing cavalcade of cautionary advice ahead of a June 23 referendum on membership in the 28-nation bloc.

The warning by Angel Gurria, the secretary-general of the Organisation for Economic Co-operation and Development, came just days after expressions of concern by US President Barack Obama, the UK Treasury and the International Monetary Fund.

He described the notion that Britain might gain a better trade deal outside the union as somewhat fanciful.

Gurria's assessment follows that made by the UK Treasury last week, which determined that leaving the European Union would cost Britain the equivalent of 6,100 US dollars per household.

The estimate was based on an analysis of the long-term costs and benefits of EU membership and its alternatives.

The ever-more dire OECD judgment came the same day that authorities reported Britain's economy slowed in the first three months of the year amid concerns about the global economy as well as the vote on EU membership.

The UK economy grew by a quarter-on-quarter rate of 0.4 percent in January-March, down from 0.6 percent in the fourth quarter of last year, the Office for National Statistics said Wednesday.

Services, which comprise 78 percent of the British economy, continued to grow, expanding by 0.6 percent.

But other sectors declined, including construction, mining and manufacturing.

The head of the global economic forum OECD warned Britain that leaving the European Union would be tantamount to taxing its citizens - another in a growing cavalcade of cautionary advice ahead of a June 23 referendum on membership in the 28-nation bloc.

The warning by Angel Gurria, the secretary-general of the Organisation for Economic Co-operation and Development, came just days after expressions of concern by US President Barack Obama, the UK Treasury and the International Monetary Fund.

He described the notion that Britain might gain a better trade deal outside the union as somewhat fanciful.

Gurria's assessment follows that made by the UK Treasury last week, which determined that leaving the European Union would cost Britain the equivalent of 6,100 US dollars per household.

The estimate was based on an analysis of the long-term costs and benefits of EU membership and its alternatives.

The ever-more dire OECD judgment came the same day that authorities reported Britain's economy slowed in the first three months of the year amid concerns about the global economy as well as the vote on EU membership.

The UK economy grew by a quarter-on-quarter rate of 0.4 percent in January-March, down from 0.6 percent in the fourth quarter of last year, the Office for National Statistics said Wednesday.

Services, which comprise 78 percent of the British economy, continued to grow, expanding by 0.6 percent.

But other sectors declined, including construction, mining and manufacturing.

London - 27 April 2016

1. Wide of Angel Gurria, Secretary-General of the Organisation for Economic Co-operation and Development (OECD) speaking on stage at the Old Theatre, London School of Economics and Political Science (LSE)

2. Man taking photos

3. Close of audience

4. SOUNDBITE (English) Angel Gurria, Secretary-General, OECD:

"Brexit would, rather like a tax, hit the wellbeing and the pockets of UK citizens. Unlike most taxes, however, this one will not finance the provision of public services or close the fiscal gap. The 'Brexit tax' would be a pure deadweight loss - a cost incurred with no economic benefit. And this tax would not be a one-off levy. Britons would be paying it for many years."

5. Cutaway of audience

6. SOUNDBITE (English) Angel Gurria, Secretary-General, OECD:

"We estimate that in a Brexit scenario, GDP per household in 2030 would be lower than the baseline, that means staying, by at least 3,200 pounds and up to 5,000 pounds in the most pessimistic case."

7. Various of audience

8. SOUNDBITE (English) Angel Gurria, Secretary-General, OECD:

"While no one knows precisely what the costs would be, what is striking about our estimates and those produced by the other institutions, is that all the numbers under a Brexit case are negative. The best outcome under Brexit is still worse than remaining. And the worst outcomes are very bad indeed. Very expensive. The Brexit tax just gets bigger."

9. Wide of stage

10. Cutaway of economist Professor Lord Stern listening on stage

11. SOUNDBITE (English) Angel Gurria, Secretary-General, OECD:

"Our conclusion is unequivocal. The UK is much stronger as a part of Europe and Europe is much stronger with the UK as a driving force. There is no upside for the UK in Brexit. Only costs that can be avoided and advantages to be seized by remaining in Europe. No one should have to pay the Brexit tax."

12. Close of audience

13. Wide of stage

Protesters demanded "Brexit now" outside parliament in London on Wednesday, as the Treasury chief announced the first budget update since the referendum, saying Britain will have less money, more debt and a slower economy in coming years.

Philip Hammond delivered the economic statement to a less-boisterous-than-usual House of Commons as the country faces unease over the future and prepares to lock horns with the European Union next year on its exit from the bloc.

Though Hammond could take some solace in the resilience of the British economy in the months following the seismic June 23 referendum, the future is uncertain.

He said his goal was to get the economy "match fit" for the next chapter.

Meanwhile Brexit supporters said they felt that their elected representatives did not act fast enough to leave the European Union in the wake of the referendum.

London - 23 November 2016

1. Pro-Brexit supporters at rally, UPSOUND of chanting (English) "What do we want? Brexit. When do we want it? Now."

2. Various of pro-Brexit demonstrators

3. Various exteriors of UK Parliament

4. Carl Emmerson, deputy director of the Institute for Fiscal Studies, outside Parliament

5. SOUNDBITE (English) Carl Emmerson, Institute for Fiscal Studies (IFS) deputy director:

"A lot of it is attributed to the fact that the UK has decided to vote to leave the European Union. There's increased uncertainty in the economy. That is pushing down growth. There's higher inflation, which is pushing down consumer spending. So that's expected to bear heavily on the economy over the next few years, which in turn will hit on tax revenues and push the government finances further into the red."

6. Cutaway of Emmerson

7. SOUNDBITE (English) Carl Emmerson, Institute for Fiscal Studies (IFS) deputy director:

"What the (UK's) Chancellor (Philip Hammond) has chosen to do is to push back his fiscal rules, loosen those fiscal targets, so he's got more headroom. He's chosen not to use that headroom all up with giveaways today. So what that means if things go worse, wrong over the next few years, if things deteriorate further relative to what the OBR (Office for Budget Responsibility) expects, he's got headroom. Or if he wants to announce some giveaways to try and help the economy for example in the March budget or in next year's Autumn statement he can do that. So he's left himself some headroom by relaxing those fiscal targets."

8. Brexit supporters at rally

9. Demonstrator holding sign (English) reading: "It's time to leave.eu"

10. Brexit supporter holding sign (English) reading: "We want our country back", UPSOUND (English) "What do we want? Brexit. When do we want it? Now."

11. Woman draped in British flag at protest

12. Kim Rose, UKIP candidate for Southampton and organiser of rally, leading chant, UPSOUND (English): "(UK Prime Minister) Theresa May - don't delay"

13. SOUNDBITE (English) Kim Rose, UKIP candidate for Southampton and organiser of rally:

"We've organised this because it's been five months since we had our referendum, five months for people to decide what we want. Parliament feel that the people are stupid and that they know different when quite frankly it was the people that actually died in the Battle of the Somme and it was the people who stood on the beaches of Dunkirk. It was the people who fought the Battle of Britain, and now today it is the people that are saying: 'we want what we voted for'."

14. Brexit supporter Tom Twigger at rally

15. SOUNDBITE (English) Tom Twigger, Brexit supporter:

"Millions of pounds they've robbed from the British people, millions of pounds. And now they're trying to rob the nation of it's nationhood, it's sovereignty and put us into a world populous with no democracy."

16. Various of rally

Some economists in Japan said the sentiment of Japanese corporations are expected to worsen following the recent Brexit vote as they feared that the economy might plunge into deflation again.

Japanese markets have regained calm after the turmoil last Friday, on back of Britain's vote to quit the European Union(EU). The Nikkei stock average tumbled almost 8 percent and the yen briefly soared above 100 against the dollar.

The Nikkei stock average is now rallying at 15,000-yen level, and the Japanese currency testing the psychological 100-yen against the U.S. dollar.

Investors are cautiously trying to assess what might follow, but many voiced concerns that it may have caused prolonged damage to Japan's economy.

"Further gain in the yen will certainly hurt the Japanese economy. Performances of the export-related manufacturing sectors expected to worsen, which will affect corporate profits, and wages. At worse it could drive Japan back into deflation. Yen's further strength will be a negative impact to Japan's corporate profits and the economy as a whole," said Satoshi Osanai, senior economist with Daiwa Institute of Research Ltd.

It is also expected to dampen corporate investments. As the uncertainty in the global economy is expected to continue for sometime.

"With this Britain's vote to leave the EU, it will make it harder for the companies to make decisive investment decisions. The corporations have held off investments for sometime and this will certainly be a setback to future investments. The manufacturing sectors will remain stagnant or weakened even further," said Masaya Sasaki, senior economist with Nomura Research Institute Ltd.

There are expectations of government's supplementary budget after the upper house election ends on 10th of July, while the Bank of Japan (BOJ) continues efforts to maintain liquidity in the market.

All still remain unclear of what further development one might expect, but it is certain that Japan wants to maintain the psychological 100-yen to the U.S. dollar.

"If the yen surge rapidly over 100 yen against the dollar, it is likely that the government and the Bank of Japan will intervene in the market to prevent excessive rise," said Osanai.

Some economists in Japan said the sentiment of Japanese corporations are expected to worsen following the recent Brexit vote as they feared that the economy might plunge into deflation again.

Japanese markets have regained calm after the turmoil last Friday, on back of Britain's vote to quit the European Union(EU). The Nikkei stock average tumbled almost 8 percent and the yen briefly soared above 100 against the dollar.

The Nikkei stock average is now rallying at 15,000-yen level, and the Japanese currency testing the psychological 100-yen against the U.S. dollar.

Investors are cautiously trying to assess what might follow, but many voiced concerns that it may have caused prolonged damage to Japan's economy.

"Further gain in the yen will certainly hurt the Japanese economy. Performances of the export-related manufacturing sectors expected to worsen, which will affect corporate profits, and wages. At worse it could drive Japan back into deflation. Yen's further strength will be a negative impact to Japan's corporate profits and the economy as a whole," said Satoshi Osanai, senior economist with Daiwa Institute of Research Ltd.

It is also expected to dampen corporate investments. As the uncertainty in the global economy is expected to continue for sometime.

"With this Britain's vote to leave the EU, it will make it harder for the companies to make decisive investment decisions. The corporations have held off investments for sometime and this will certainly be a setback to future investments. The manufacturing sectors will remain stagnant or weakened even further," said Masaya Sasaki, senior economist with Nomura Research Institute Ltd.

There are expectations of government's supplementary budget after the upper house election ends on 10th of July, while the Bank of Japan (BOJ) continues efforts to maintain liquidity in the market.

All still remain unclear of what further development one might expect, but it is certain that Japan wants to maintain the psychological 100-yen to the U.S. dollar.

"If the yen surge rapidly over 100 yen against the dollar, it is likely that the government and the Bank of Japan will intervene in the market to prevent excessive rise," said Osanai.

Tokyo, Japan - June 30, 2016

1. Various of roadside screen showing stocks, residents viewing

2. SOUNDBITE (Japanese) Satoshi Osanai, senior economist, Daiwa Institute of Research Ltd.:

"Further gain in the yen, will certainly hurt the Japanese economy. Performances of the export-related manufacturing sectors are expected to worsen, which will affect corporate profits, and wages. At worse it could drive Japan back into deflation. Yen's further strength will be a negative impact to Japan's corporate profits and the economy as a whole."

Tokyo, Japan - June 9, 2016

3. Various of Haruhiko Kuroda, Governor of Bank of Japan, at press conference

Tokyo, Japan - June 30, 2016

4. SOUNDBITE (Japanese) Masaya Sasaki, senior economist, Nomura Research Institute Ltd.:

"With this Britain's vote to leave the EU, it will make it harder for the companies to make decisive investment decisions. The corporations have held off investments for sometime and this will certainly be a setback to future investments. The manufacturing sectors will remain stagnant or weakened even further."

5. SOUNDBITE (Japanese) Satoshi Osanai, senior economist, Daiwa Institute of Research Ltd.:

"If the yen surge rapidly over 100 yen against the dollar, it is likely that the government and the Bank of Japan will intervene in the market to prevent excessive rise."

Tokyo, Japan - June 9, 2016

6. Various of building of Bank of Japan, national flag

Leaders of European Union member states will meet to adopt its "Brexit guidelines" on April 29, European Council president Donald Tusk has pronounced.

It comes one month to the day after Theresa May triggered Article 50 and officially began Brexit on March 29.

After Saturday, the UK will probably know where it stands. But negotiations will have to wait for the outcome of the UK snap General Election on June 8th. Should the electorate not hand Theresa May a crowning victory, the Brexit process could be complicated a little further.

On his part, the European Council president on March 31 laid out draft negotiating guidelines. Going against British expectations, the EU's approach seeks to settle all outstanding commitments in the first place. Only after that will they discuss a future relationship. Ahead of Saturday's summit, the EU has been talking tough. German Chancellor Angela Merkel has already warned UK not to expect any special deal.

"With Pro-European leaders in Germany and France and that the Franco-German motor of the European Union remains intact, they will be tough with Britain because clearly they will not wish to see a deal that's granted to Britain which would be better than being a member of the European Union. Otherwise it would destabilize the whole project for the 27 remaining members," said Charlees Tannock, a British Conservative Member of the European Parliament(MEP).

The EU is cranking up pressure on the UK to grant permanent residence to EU nationals who stay in the UK for more than five years. And also, should a future trade agreement include financial services, the City of London will have to subject to EU regulation.

But there is one massive issue that needs to be resolved on Saturday. That is money. The EU wants to bill UK 60 billion euros that it claims the UK owes it.

"If we can also be serious about the money, that the British have financial commitments already until at least 2020 and we know that. And therefore to stop treating this as if somehow a punishment meeting and look at it as a reasoned negotiation, I think that will take the temperature down and that things will go much more smoothly," said Jean Lamberts, a British Green MEP.

Some political analysts believe that the amount the UK will eventually be asked to pay could go even higher.

"It's not only 60 billion euros. It's also what the EU is going to lose after 2020 – when they will have to agree on the new seven-year budget. It's going to be at least 20 percent of the EU broad budget that will be missing," said Fabrice Pothier, a senior associate of Rasmussen Global, a political consulting company.

FILE: Brussels, Belgium - Exact Date Unknown

1. European Union flags

2. Various of European Commission building

Brussels, Belgium - April 26, 2017

3. SOUNDBITE (English) Charlees Tannock, British Conservative MEP (starting with shot 2):

"With Pro-European leaders in Germany and France and that the Franco-German motor of the European Union remains intact, they will be tough with Britain because clearly they will not wish to see a deal that's granted to Britain which would be better than being a member of the European Union. Otherwise it would destabilize the whole project for the 27 remaining members."

FILE: Brussels, Belgium - Exact Date Unknown

4. Various of vehicles, pedestrians on street

Brussels, Belgium - April 26, 2017

5. SOUNDBITE (English) Jean Lamberts, British Green MEP (starting with shot 4):

"If we can also be serious about the money, that the British have financial commitments already until at least 2020 and we know that. And therefore to stop treating this as if somehow a punishment meeting and look at it as a reasoned negotiation, I think that will take the temperature down and that things will go much more smoothly."

FILE: Brussels, Belgium - Exact Date Unknown

6. Vehicles, pedestrians on street

Brussels, Belgium - April 26, 2017

7. SOUNDBITE (English) Fabrice Pothier, senior associate, Rasmussen Global:

"It's not only 60 billion euros. It's also what the EU is going to lose after 2020 – when they will have to agree on the new seven-year budget. It's going to be at least 20 percent of the EU broad budget that will be missing."

FILE: Brussels, Belgium - Exact Date Unknown

8. View of city, vehicles

RESTRICTION SUMMARY: NO ACCESS BBC, ITN (INCLUDING CHANNEL 4 AND 5), AL JAZEERA, BLOOMBERG

SHOTLIST:

SKY - NO ACCESS BBC, ITN (INCLUDING CHANNEL 4 AND 5), AL JAZEERA, BLOOMBERG

Glasgow - 16 January, 2017

1. SOUNDBITE (English) Nicola Sturgeon, Scotland's First Minister:

"I think the reality is Brexit is going to be damaging for the UK economy. You know, we saw the (UK) Chancellor, Phillip Hammond, yesterday basically admit that, but even more worrying than that, suggest that the UK government might try to compensate for the loss of competitiveness with a race to the bottom - a low tax, low wage, deregulated economy. Now if that happens, you will see workers rights, environmental standards, social protections, undermined, and I think that should deeply trouble everybody, because it becomes then not just a question of 'should we be in or out of the EU,' that actually starts to become a fundamental question of what kind of country do we want to be."

++BLACK FRAMES++

2. SOUNDBITE (English) Nicola Sturgeon, Scotland's First Minister:

"I'll wait and hear what (UK Prime Minister) Theresa May has to say. What I have said stands and everybody knows what I have said previously. We will see what Theresa May has to say, but, you know, I have to say that the hints about what she is likely to say and the comments of Phillip Hammond in the German newspaper are deeply troubling. And I think they should be troubling to those who voted 'leave' as well as to those who voted 'remain,' because what they suggest is a radical change - and these are the words that Phillip Hammond used - to the economic model of the UK. Now many people think that the economic model should change, but not in the way that he is describing. What he is describing is a race the bottom - a sort of bargain basement economy where the UK government will try to attract business to the UK by offering lower taxes, lower wages, less regulation in terms of workers rights. And I think whether they voted 'leave or 'remain,' that starts to raise pretty profound and fundamental questions of what kind of country we want want to be. And for Scotland, not just what kind of country we want to be, but who gets to decide that, because this is not a path that the majority of people in Scotland voted to take."

++BLACK FRAMES++

3. SOUNDBITE (English) Nicola Sturgeon, Scotland's First Minister:

"I will wait to hear what Theresa May has to say. I've said what I have said, I've been very clear that the option of an independence referendum has to be on the table, because if it isn't then Scotland risks being taken down a really damaging path with no control over the future of our own country. But I have published proposals that would keep the UK in the single market, would keep Scotland in the single market if the rest of the UK chooses to leave, a paper putting forward proposals for substantial new powers for the Scottish Parliament. So I've set out my stall, and I think that at the moment it's reasonable, now, to wait and hear what Theresa May has to say."

++ENDS ON SOUNDBITE++

STORYLINE:

Scottish First Minister Nicola Sturgeon said on Monday that the outlook of some conservative ministers' on Brexit was "deeply troubling."

Sturgeon said she would wait to see what UK Prime Minister Theresa May had to say, but hints of what she was likely to say - paired with comments from Chancellor Phillip Hammond over potential tax changes to the UK - were unsettling.

Sturgeon said Hammond's suggestions were a radical change to the economic model of the United Kingdom and constituted a "race to the bottom" that would leave people worse off.

Under pressure to reveal her Brexit blueprint, May's office said she will call for a "truly global Britain" that is more open to the world when she sets out plans for negotiations with the EU in a speech later this week.

Hammond told the German newspaper Welt am Sonntag that Britain is prepared to "do whatever we have to do," including turning away from Europe and towards other markets, to protect its economy.

Hammond also suggested that Britain could cut taxes to encourage companies to move to the UK.

===========================================================

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Experts elaborated their views on Britain's exit bill and the border with Northern Ireland, two among the focuses of a new round of Brexit negotiations launched between Britain and the European Union (EU) on Monday in Brussels.

Earlier, the EU had demanded that Britain pay some 60 billion euros (70 billion U.S. dollars) as an exit fee. Negotiation on the exit bill, however, might be especially tough, following British Foreign Minister Boris Johnson's remark last week that the EU could "go whistle" over its "extortionate" bill demand.

"The legal basis is that every seven years, the European Union agrees sort of a multi-annual budget. A certain member states put in more than they take out from this budget, and the UK is one of those net contributors. That seven year-time frame runs, I believe from 2013 or 2014 up to 2020. So if you add by three more years, you kind of come up with this figure which although the EU is reluctant to put a number on it, is probably in the range of about 60 billion euro. And that's what's been called as sort of the 'divorce settlement,'" said Brian Beary, editor of magazine, European Affairs, while attending a Chinese Global Television Network (CGTN) program.

"But no country has ever left the European Union before. So, I think the British government were a little taken by surprise that this would even happen. And I think they're slowly reconciling to the fact that there will be some kind of financial compensation to sort of close off the books," said Beary.

In addition, Northern Ireland's Democratic Unionist Party (DUP), with which the UK Conservative Party seeking to form an alliance to govern, has demanded maintaining an open border to the Republic of Ireland, adding complications to the negotiations for the UK's withdrawal from the single customs union.

Prof. Jonathan Portes at King's College of London analyzed during the CGTN program that DUP, in common with both the British government and the Irish government and the rest of the European Union, would like to find some way of avoiding reestablishing a hard border.

"DUP, I think, recognizes that a return to the borders of the pass would be a disaster for Northern Ireland both economically and politically. So the DUP in common with both the British government and the Irish government and the rest of the European Union want to find some way of avoiding reestablishing a hard border. The problem is nobody knows how," said Prof. Portes.

"If the UK is going to leave the European Union, there will be a border between Northern Ireland and the rest of the European Union. So the problem I think will be that some on the European and Irish side might say 'well, in that case, perhaps we should have the hard border, the customs border, custom checks, and so on in between the island of Ireland and the mainland, that is to say between Northern Ireland and England and Scotland, rather than between Northern Ireland and Southern Ireland, and that would be a real problem for the DUP. So, if that comes onto the agenda, then things could get very messy indeed," said the professor.

Negotiators will also talk about other key issues concerning Britain's withdrawal, such as citizens' rights, in the four-day negotiations.

In March, British Prime Minister Theresa May had set a two-year timetable for leaving the EU, and has said the process can't be reversed.

FILE: London, UK - June 19, 2017

1. Buckingham Palace

2. Victoria Memorial

3. Houses of Parliament

4. National flags of United Kingdom

Washington D.C., USA - July 17, 2017

5. SOUNDBITE (English) Brian Beary, editor, European Affairs (starting with shot 4) (partially overlaid with shots 6-7):

"The legal basis is that every seven years, the European Union agrees sort of a multi-annual budget, and a certain member states put in more than they take out from this budget, and the UK is one of those net contributors. That seven year time frame runs, I believe from 2013 or 2014 up to 2020. So if you add by three more years, you kind of come up with this figure, which although the EU is reluctant to put a number on it, is probably in the range of about 60 billion euro. And that's what's been called as sort of the divorce settlement. But no country has ever left the European Union before. So, I think the British government were a little taken by surprise that this would even happen. And I think they're slowly reconciling to the fact that there will be some kind of financial compensation to sort of close off the books."

FILE: London, UK - June 19, 2017

++SHOTS OVERLAYING SOUNDBITE++

6. National flags of United Kingdom

7. Pedestrians

++SHOTS OVERLAYING SOUNDBITE++

8. Guards at 10 Downing Street

9. Sign of 10 Downing Street

10. Street scene

London, UK - July 17, 2017

11. SOUNDBITE (English) Jonathan Portes, prof. of economics, King's College of London (partially overlaid with shot 12):

"DUP, I think, recognizes that a return to the borders of the pass would be a disaster for Northern Ireland both economically and politically. So the DUP in common with both the British government and the Irish government and the rest of the European Union want to find some way of avoiding reestablishing a hard border. The problem is no body knows how. If the UK is going to leave the European Union, there will be a border between Northern Ireland and the rest of the European Union. So the problem I think will be that some on the European and Irish side might say 'well, in that case, perhaps we should have the hard border, the customs border, custom checks, and so on in between the island of Ireland and the mainland, that is to say between Northern Ireland and England and Scotland, rather than between Northern Ireland and Southern Ireland, and that would be a real problem for the DUP. So, if that comes onto the agenda, then things could get very messy indeed."

FILE: London, UK - June 19, 2017

++SHOT OVERLAYING SOUNDBITE++

12. Various of traffic

++SHOT OVERLAYING SOUNDBITE++

13. Pedestrians

14. Big Ben Tower

15. London Eye

FOR CLEAN VERSION SEE STORY NUMBER: apus058122

House Speaker Paul Ryan appeared to back the vote of Britain to leave the European Union.

Friday he highlighted the Republican values of sovereignty, self-determination, a government by consent and limited government, adding, "these principles are being expressed here at home and around the world. So we clearly understand the thinking behind these principles."

The comments came as House Republicans unveiled a plan for a simpler tax code, the sixth and last installment of a GOP agenda designed to be a policy counterpoint to the personality-driven campaign of Donald Trump.

Ryan and other Republicans announced the plan at a news conference Friday morning. The proposal would lower tax rates for both families and businesses, although it falls short of the 25 percent top rate for individuals that Ryan promised not long ago.

Instead, the tax reform plan proposes a 33 percent top tax bracket instead of the current top rate of 39.6 percent restored by President Barack Obama in a 2013 victory over Republicans in the wake of his re-election.

The Ryan plan also lacks the detail required to measure whether it maintains the current distribution of the tax burden by income range.

The plan won't face a vote this year but, like other elements of Ryan's agenda, provides a template for potential action next year.

FOR CLEAN VERSION SEE STORY NUMBER: apus058122

House Speaker Paul Ryan appeared to back the vote of Britain to leave the European Union.

Friday he highlighted the Republican values of sovereignty, self-determination, a government by consent and limited government, adding, "these principles are being expressed here at home and around the world. So we clearly understand the thinking behind these principles."

The comments came as House Republicans unveiled a plan for a simpler tax code, the sixth and last installment of a GOP agenda designed to be a policy counterpoint to the personality-driven campaign of Donald Trump.

Ryan and other Republicans announced the plan at a news conference Friday morning. The proposal would lower tax rates for both families and businesses, although it falls short of the 25 percent top rate for individuals that Ryan promised not long ago.

Instead, the tax reform plan proposes a 33 percent top tax bracket instead of the current top rate of 39.6 percent restored by President Barack Obama in a 2013 victory over Republicans in the wake of his re-election.

The Ryan plan also lacks the detail required to measure whether it maintains the current distribution of the tax burden by income range.

The plan won't face a vote this year but, like other elements of Ryan's agenda, provides a template for potential action next year.

Washington - 24 June 2016

1. SOUNDBITE (English): Rep. Paul Ryan Speaker of the House:

"No.Obviously, markets are going to react when new news and information like this occurs. I believe the markets will eventually stabilize. That's point number one. Point number two. All the more reason for America to lead. America needs the lead. The world wants America to lead and with tax reform plan America will clearly be leading and on so many ways by having a code, the Ways and Means committee, they had to make a decision. Stick with the current system and get it so it's in the middle of the pack with the rest of the world or do we have a plan that leapfrogs and leads the rest of the world. This is a plan that leapfrogs and leads the rest of the world. And so for all of these moments of possible uncertainty that are happening around the globe having strong, powerful, confident American economic leadership is in need and this does that."

++SOUNDBITES SEPARATED BY WHITE FLASHES++

2. SOUNDBITE (English): Rep. Paul Ryan Speaker of the House:

"Well sure. The question is about the Brexit vote. I do believe. Look. As an American we value the principle of sovereignty, self-determination, a government by consent and limited government. These are very important principles and these principles are being expressed here at home and around the world. So we clearly understand the thinking behind these principles. Let me just say since you're going off the tax script, I'll go off it with you just for this moment Deirdre, England is our indispensable ally. Our friends in the United Kingdom are our indispensable ally and this is a very special relationship and that's going to continue no matter what. Period. End of story."

Global shares were mostly lower on Monday amid worries about Britain's exit from the European Union and a downgrade of Italy's credit rating

It comes as British Prime Minister Theresa May is set to deliver a speech outlining her vision of Britain's post-EU future and market players are worried what she says may indicate a "hard" approach to the nation's exit.

Her office has said she will call for a "truly global Britain" that is more open to the world when she lays out plans for negotiations with the European Union.

That prospect alarms many in Britain's huge financial services sector, which relies on EU access.

Germany's vice chancellor, responding to an interview with President-elect Donald Trump, has rejected threats by Trump to put tariffs of up to 35 percent on German automakers if they set up plants in Mexico instead of the US and try to export cars to the US from there.

Trump had also claimed German automakers don't behave fairly because a lot of German cars are seen in the US, but few American cars in Germany.

Frankfurt - 16 January 2017

1. Various of Frankfurt Stock Exchange trading floor

2. SOUNDBITE (German) Robert Halver Head of Market Research, Baader Bank:

"I think BMW, VW, Daimler, as well as Audi and Porsche will in future make additional investments in America. If they create jobs they will buy out from protectionist measures and import taxes and Mr. Trump will most certainly ask for this."

3. Trader at desk

4. SOUNDBITE (German) Robert Halver Head of Market Research, Baader Bank:

"Thirty-five percent punitive taxes on German cars is a big number that hurts. We do not know whether it will be as bad as that, but what is certain is that the car industry will use appeasement strategies in order to not be affected too negatively by the big Caesar"

5. Traders at desk

6. SOUNDBITE (German) Robert Halver Head of Market Research, Baader Bank:

"Just like America, Mrs. May for Great Britain will try to blackmail us by suggesting hard Brexit. The subject will be let's cut all ties to Europe and if Europe will not back down, Great Britain will turn into a tax haven with low business taxes that will be the strategy. I hope that we will come to some sort of agreement with the British, I have always regretted that the British will leave us. We still need them"

7. Trader at desk

8. SOUNDBITE (German) Robert Halver Head of Market Research, Baader Bank:

"If we indeed had massive tax cuts for cooperation, some German businesses would surely consider to move at least the administration to Great Britain to profit from this. The Irish success their low tax politics shows that taxes are a very important element of competitiveness."

9. Various of trading floor

Germany's finance minister said on Wednesday that he didn't expect a "race to the bottom" on business taxes after Britain announced plans to cut its corporation tax rate.

Speaking at a press conference in Berlin, Wolfgang Schaeuble said Britain's move would have little influence on German policy.

British Treasury chief George Osborne said on Monday that he plans to cut UK corporation tax to below 15 percent to encourage investment and ease business concerns after voters chose to leave the European Union.

Some London-based businesses are considering leaving for other European cities to benefit from the large EU common market.

The British pound hit a new 31-year low against the US dollar on Wednesday, as worries reawakened about the economic repercussions of Britain's decision to leave the EU.

Schaeuble also stressed that it's up to Britain to decide what future relationship it wants with the EU.

Departing British Prime Minister David Cameron has left the decision to formally trigger EU exit talks to his successor, who will be elected by members of the governing Conservative Party in September.

Germany's finance minister said on Wednesday that he didn't expect a "race to the bottom" on business taxes after Britain announced plans to cut its corporation tax rate.

Speaking at a press conference in Berlin, Wolfgang Schaeuble said Britain's move would have little influence on German policy.

British Treasury chief George Osborne said on Monday that he plans to cut UK corporation tax to below 15 percent to encourage investment and ease business concerns after voters chose to leave the European Union.

Some London-based businesses are considering leaving for other European cities to benefit from the large EU common market.

The British pound hit a new 31-year low against the US dollar on Wednesday, as worries reawakened about the economic repercussions of Britain's decision to leave the EU.

Schaeuble also stressed that it's up to Britain to decide what future relationship it wants with the EU.

Departing British Prime Minister David Cameron has left the decision to formally trigger EU exit talks to his successor, who will be elected by members of the governing Conservative Party in September.

Berlin - 6 July 2016

1. Wide of German Finance Minister Wolfgang Schaeuble at press conference

2. Photographer

3. Journalist looking at press release

4. SOUNDBITE (German) Wolfgang Schaeuble, German Finance Minister:

"So now he (George Osborne) has announced (a cut in corporation tax), and we will meet next week at the ECOFIN. There we will surely hear explanations from him about that (the tax cut), at least I hope. But we have no intention in Europe of starting a race to the bottom, this makes no sense."

5. Journalist taking notes

6. SOUNDBITE (German) Wolfgang Schaeuble, German Finance Minister:

"We are not against tax competition, but we favour public budgets in all member countries being fairly and appropriately financed. That's why the British announcement has no effect on our tax policy considerations."

7. Camera

8. SOUNDBITE (German) Wolfgang Schaeuble, German Finance Minister:

"Honestly, I have to say I don't fully understand what those who conducted this campaign (to leave the European Union at the UK's referendum) imagined, because now they are all running away from what they caused in droves. That wasn't a very diplomatic comment, but one that came from the depth of my soul."

9. Wide of presser

10. SOUNDBITE (German) Wolfgang Schaeuble, German Finance Minister:

"There are other countries which also have a relationship with the European Union, and with the single market - Norway, Switzerland. But one thing is clear. Membership of the single market means of course to accept the basic freedoms of Europe (European Union). That's what Switzerland had to painfully acknowledge with a referendum, but it carried it out. And furthermore you also have to participate in the funding. If now the supporters of Brexit, who lead this campaign, meant that they had wanted Great Britain to take the status of Switzerland in its relationship with the European Union, you need to put this to those who are still around, those who lead this campaign. I cannot answer this."

11. Wide of Schaeuble shaking hand of moderator

12. Schauble leaving press conference

Opposition Labour Party leader Jeremy Corbyn said Prime Minister Theresa May's speech appeared to suggest that if a deal with the European Union didn't work Britain would move to become a low tax, "bargain basement economy on the offshores of Europe."

Corbyn said May needed to be clearer on her objectives.

In her speech May said Britain will leave the EU's single market - but will "seek greatest possible access to it" - as it exits the trade bloc.

May says her plans for Brexit cannot allow the U.K. to remain in the single market of the bloc because that would mean "not leaving the EU at all."

May said she wanted Britain to be part of a customs union agreement with the other EU states, and remove as many trade barriers as possible. She did not provide details, but said she had an "open mind" on how to do it.

Corbyn said "she seems to be wanting to have her cake and eat it."

The Labour leader said he would soon be setting out the party's idea of future relationships with Europe "but also our ideas about future trading relationships with the rest of the world."

UK POOL

London - 17 January 2017

1. SOUNDBITE: (English) Jeremy Corbyn, Opposition Labour Party leader:

"Throughout the speech there seemed to be an implied threat that somewhere along the line if all her optimism of a deal with the European Union didn't work, we would move into a low tax, corporate taxation, bargain basement economy on the offshores of Europe, and I think she needs to be a bit clearer about what the long-term objectives are."

++BLACK++

Question off camera: (English) Will you vote for Britain to leave the single market?

2. SOUNDBITE: (English) Jeremy Corbyn, Opposition Labour Party leader:

"We have said all along that we will not block Article 50 coming in and that's going to be very soon within Parliament. We will be putting a case for market access to Europe, we'll be putting a case for regulation of labour market and all the issues that go with that, we'll be putting a very strong case to the British people and to Parliament. This is two years away and it's quite nice that at last we've got confirmation that 27 member state parliaments will get a vote, including ours, and of course the European parliament also gets a vote on this."

Question off camera: Specifically on leaving the single market, that is something that you will now accept will happen?

3. SOUNDBITE: (English) Jeremy Corbyn, Opposition Labour Party leader:

"She has said that leave the single market and at the same time says she wants to have access to the single market. I'm not quite sure how that's going to go down in Europe. I think we have to have a deal that ensures that we have access to the market, we have British jobs dependant on that market, that's what we'll be pushing for. Whether it's specifically this form of single market I don't know. She seems to be wanting to have her cake and eat it."

++BLACK++

4. SOUNDBITE: (English) Jeremy Corbyn, Opposition Labour Party leader:

"Well she concedes that herself, she concedes that we depend a great deal on the people who have come to work in this country and also she makes the correct point which indeed Parliament has already voted on, that EU nationals living in Britain should be allowed to remain here just as much as British nationals of which there are probably 1.5 million living across Europe are able to continue living there. So there's going to have to be a close relationship with Europe in the future. We're going to hold them to account on all of this because I think there are enormous dangers in this and when she talks about future trade arrangements, all she said was that Donald Trump said we'd be first in the queue. First in the queue? For an investor protection type trade treaty? I don't know exactly what she has in mind in that."

++BLACK++

5. SOUNDBITE: (English) Jeremy Corbyn, Opposition Labour Party leader:

"Well be obviously responding to the statement in Parliament today, Keir Starmer (shadow Brexit Secretary) will be doing that, Emily (Thornberry, shadow Foreign Secretary) and Keir have been making the point all along that there has to be proper parliamentary scrutiny of that. We will be doing all of that and of course when the major debate comes up, which I hope will be very soon, we'll be setting out our idea of future relationships with Europe but also our ideas about future trading relationships with the rest of the world. We want to ensure that jobs and markets are protected in this country, we want to ensure that British manufacturing industry has a chance to export. She makes all these optimistic statements, every economic indicator in Britain is going in the wrong direction at the present time."

++ENDS ON SOUNDBITE++

Views of UK people are divided as Theresa May took office as UK's new prime minister on Wednesday.

"I am very pleased that Theresa May has now taken over as the new prime minister. I think she has got a lot of experience. She would be very competent in the way that she conducts herself and it's a very important time for our country. We will provide the clear leadership that we need," said Steve Double, a member of the Parliament.

"Well, clearly to get the best deal she can for the UK to leave the European Union, that's I think is the most important thing at the moment, but also just to continue the program of the manifesto that we were elected on to continue to create jobs, grow our economy, get our public spending under control, bring down that deficit, and also I believe the social justice agenda, the life chance agenda that David Cameron started, continue to address some of the real causes of poverty in our country," Double added.

"To unite the country when there has been a lot of nervousness and a lot of unrest, to just bring everyone together, like Churchil did after the war, and said right, we have got to get behind the country now and make it work. That's our biggest challenge," said Gina, a London resident.

"It is surprising the speed, but the person is not surprising, because she is very experienced. She has been the home secretary for a very long time. She is the longest serving home secretary, and she had to go to Europe to negotiate immigration. She had to go to the war to negotiate counter-terrorism. So she is very good with negotiation. What she needs to be able to do now, is to consolidate and transfer all these skills of negotiation into economy," said Chris Imafindon, a professor.

However, protesters gathered near the parliament building, in front of the downtown square and outside the 10 Downing Street. Some disabled people arrived to protest against the Conservative Party's austerity policies that has greatly reduced their social welfare.

People worry that May lacks working experience in economic sectors and therefore it will be hard for the UK economy to recover under the context of Brexit.

The UK's second female prime minister has appointed officials for her new cabinet to reunite the Conservative Party after the EU referendum, in which she backed a Remain vote. The first meeting of the new cabinet will convene next Tuesday.

As for the highly concerned issue of Brexit, May said to the European leaders that "some time" would be needed to prepare for the EU exit talks.

Views of UK people are divided as Theresa May took office as UK's new prime minister on Wednesday.

"I am very pleased that Theresa May has now taken over as the new prime minister. I think she has got a lot of experience. She would be very competent in the way that she conducts herself and it's a very important time for our country. We will provide the clear leadership that we need," said Steve Double, a member of the Parliament.

"Well, clearly to get the best deal she can for the UK to leave the European Union, that's I think is the most important thing at the moment, but also just to continue the program of the manifesto that we were elected on to continue to create jobs, grow our economy, get our public spending under control, bring down that deficit, and also I believe the social justice agenda, the life chance agenda that David Cameron started, continue to address some of the real causes of poverty in our country," Double added.

"To unite the country when there has been a lot of nervousness and a lot of unrest, to just bring everyone together, like Churchil did after the war, and said right, we have got to get behind the country now and make it work. That's our biggest challenge," said Gina, a London resident.

"It is surprising the speed, but the person is not surprising, because she is very experienced. She has been the home secretary for a very long time. She is the longest serving home secretary, and she had to go to Europe to negotiate immigration. She had to go to the war to negotiate counter-terrorism. So she is very good with negotiation. What she needs to be able to do now, is to consolidate and transfer all these skills of negotiation into economy," said Chris Imafindon, a professor.

However, protesters gathered near the parliament building, in front of the downtown square and outside the 10 Downing Street. Some disabled people arrived to protest against the Conservative Party's austerity policies that has greatly reduced their social welfare.

People worry that May lacks working experience in economic sectors and therefore it will be hard for the UK economy to recover under the context of Brexit.

The UK's second female prime minister has appointed officials for her new cabinet to reunite the Conservative Party after the EU referendum, in which she backed a Remain vote. The first meeting of the new cabinet will convene next Tuesday.

As for the highly concerned issue of Brexit, May said to the European leaders that "some time" would be needed to prepare for the EU exit talks.

London, UK - July 13, 2016

1. Cameramen; reporters at Downing Street

2. SOUNDBITE (English) Steve Double, member of Parliament (partially overlaid with shot 3):

"I am very pleased that Theresa May has now taken over as the new prime minister. I think she has got a lot of experience. She would be very competent in the way that she conducts herself and it's a very important time for our country. We will provide the clear leadership that we need. Well, clearly to get the best deal she can for the UK to leave the European Union, that's I think is the most important thing at the moment, but also just to continue the program of the manifesto that we were elected on to continue to create jobs, grow our economy, get our public spending under control, bring down that deficit, and also I believe the social justice agenda, the life chance agenda that David Cameron started, continue to address some of the real causes of poverty in our country."

++SHOT OVERLAYING SOUNDBITE++

3. Cameramen; reporters

++SHOT OVERLAYING SOUNDBITE++

4. Various of cameramen

5. SOUNDBITE (English) Gina (full name not given), London resident:

"To unite the country when there has been a lot of nervousness and a lot of unrest, to just bring everyone together, like Churchil did after the war, and said right, we have got to get behind the country now and make it work. That's our biggest challenge."

6. SOUNDBITE (English) Chris Imafindon, professor:

"It is surprising the speed, but the person is not surprising, because she is very experienced. She has been the home secretary for a very long time. She is the longest serving home secretary, and she had to go to Europe to negotiate immigration. She had to go to the war to negotiate counter-terrorism. So she is very good with negotiation. What she needs to be able to do now, is to consolidate and transfer all these skills of negotiation into economy."

7. Various of protesters

It's been 25 years since the Penallta Colliery fell silent: the river once black with soot is now green and nature has taken back its place in this valley in South Wales.

Eddie Cullen grew-up here in a family of miners and remembers the decline of the town and the sorrow at seeing the heart of his community torn away.

"Everyone was frightened when the pit shut," he says.

With dire poverty and high unemployment rates, South Wales has benefited from generous grants and financing schemes from the European Union to rejuvenate the area's economy.

Yet on 23 June - the day of the UK referendum - the region voted massively to leave the EU.

The modern highway connecting Brynmawr with other former coal-mining towns in the Valleys region of South Wales was partly funded by the European Union, replacing a three-lane road known for its many deadly accidents.

In Abbw Vale, where 62 percent voted out, EU funds have also been used to improve railway lines, open museums, schools and training centres built where the steel works once stood.

Paul Thomas, who voted 'remain', worries Brexit could jeopardise these achievements.

"There was going to be more development but we don't know what's going to happen now," he says.

But back in the old city centre retired truck driver John Thompson doesn't agree, saying that "there's been no benefit to this area at all"

"Leave" campaigners say many of the EU projects are gimmicky and haven't led to any tangible improvements for people.

Also, they consider the EU money as British money to begin with, since overall Britain contributes more money than it gets back from the EU.

Welsh Conservative leader Andrew RT Davies, was one politician to go against the party's UK leader, Prime Minister David Cameron, and vote for Britain to quit the EU

Davies used the metaphor of an out-of-control car to describe the EU, saying that people used the referendum to effectively say "I want to get out, the way this car is driven, we're going to hit a brick wall."

But for one Welsh company, Brexit was the brick wall.

In Pontypridd, a town climbing up misty hillsides north of Cardiff, Jenny Hughes said her education consultancy firm lost three potential contracts the day after the referendum as European partners pulled out.

Even though Wales receives hundreds of millions of pounds annually in EU funding, more than half of the Welsh electorate voted for Britain to leave the EU.

Puzzling many analysts, the "leave" vote was strongest in deprived post-industrial areas that have arguably benefited the most from EU support.

"Wales might have shot itself in the foot," says Ed Poole, lecturer in politics at Cardiff University, explaining that Wales has been one of the biggest net beneficiaries of being in the European Union.

A study he co-authored before the vote estimated that Wales receives a net annual benefit of 245 million (British) pounds (327 million US dollars) from the EU budget, or about 79 pounds (105 US dollars) per head.

That compares with a net contribution of 151 pounds (201 US dollars) per head for all of the United Kingdom.

It's possible, Poole says, that some voters didn't fully understand the role of EU funds in supporting their communities - or chose to ignore it.

It's been 25 years since the Penallta Colliery fell silent: the river once black with soot is now green and nature has taken back its place in this valley in South Wales.

Eddie Cullen grew-up here in a family of miners and remembers the decline of the town and the sorrow at seeing the heart of his community torn away.

"Everyone was frightened when the pit shut," he says.

With dire poverty and high unemployment rates, South Wales has benefited from generous grants and financing schemes from the European Union to rejuvenate the area's economy.

Yet on 23 June - the day of the UK referendum - the region voted massively to leave the EU.

The modern highway connecting Brynmawr with other former coal-mining towns in the Valleys region of South Wales was partly funded by the European Union, replacing a three-lane road known for its many deadly accidents.

In Abbw Vale, where 62 percent voted out, EU funds have also been used to improve railway lines, open museums, schools and training centres built where the steel works once stood.

Paul Thomas, who voted 'remain', worries Brexit could jeopardise these achievements.

"There was going to be more development but we don't know what's going to happen now," he says.

But back in the old city centre retired truck driver John Thompson doesn't agree, saying that "there's been no benefit to this area at all"

"Leave" campaigners say many of the EU projects are gimmicky and haven't led to any tangible improvements for people.

Also, they consider the EU money as British money to begin with, since overall Britain contributes more money than it gets back from the EU.

Welsh Conservative leader Andrew RT Davies, was one politician to go against the party's UK leader, Prime Minister David Cameron, and vote for Britain to quit the EU

Davies used the metaphor of an out-of-control car to describe the EU, saying that people used the referendum to effectively say "I want to get out, the way this car is driven, we're going to hit a brick wall."

But for one Welsh company, Brexit was the brick wall.

In Pontypridd, a town climbing up misty hillsides north of Cardiff, Jenny Hughes said her education consultancy firm lost three potential contracts the day after the referendum as European partners pulled out.

Even though Wales receives hundreds of millions of pounds annually in EU funding, more than half of the Welsh electorate voted for Britain to leave the EU.

Puzzling many analysts, the "leave" vote was strongest in deprived post-industrial areas that have arguably benefited the most from EU support.

"Wales might have shot itself in the foot," says Ed Poole, lecturer in politics at Cardiff University, explaining that Wales has been one of the biggest net beneficiaries of being in the European Union.

A study he co-authored before the vote estimated that Wales receives a net annual benefit of 245 million (British) pounds (327 million US dollars) from the EU budget, or about 79 pounds (105 US dollars) per head.

That compares with a net contribution of 151 pounds (201 US dollars) per head for all of the United Kingdom.

It's possible, Poole says, that some voters didn't fully understand the role of EU funds in supporting their communities - or chose to ignore it.

Hengoad - 29 June 2016

1. Various of abandoned coal mine

2. SOUNDBITE (English) Eddie Cullen, excavator driver:

"At first, everybody was frightened when the pit (coal mine) shut, but life has got to go on and we've still done well. There has been a lot of unemployment in Wales, but we've just got to travel further for the work, like me."

3. Cutaway of dog

4. SOUNDBITE (English) Eddie Cullen, excavator driver:

"Everybody has just had enough, you know. They want their identity back as a country, you know, rather than being run by people from outside the country."

5. Grafiti on abandoned coal mine reading (English) "Don't steal our heritage."

6. Various of abandoned coal mine

Near Brynmawr - 30 June 2016

7. Various of road sign indicating EU financing for the motorway

8. Traffic on motorway

Abbw Vale - 30 June 2016

9. Tilt down on piece of machinery from the old steel works that previously occupied site

10. Various of new college partially financed by the EU

11. Various of new recreational centre partially financed by the EU

12. SOUNDBITE (English) Paul Thomas, occupational therapist:

"My dad worked at the steelworks. He used to come home and tell us when we were kids that he'd have to use a push bike to go from one end of the factory to the other end of the factory. Sadly it's gone now, but with the EU funding we've got the leisure centre now, we've got the college, we've got the school, we've got the hospital. There was going to be more development here, but we don't know what's going to happen now."

Near Brynmawr - 30 June 2016

13. Various of the town

14. Street in centre of town with sign reading (English) "Vote Leave."

15. Close of Welsh flag

16. SOUNDBITE (English) John Thompson, retired truck driver:

"I would say no. We haven't seen no benefit to this area at all. They do leave us a road now as you know, you've seen the sign, the European sign on it, but what you've got to think about is: they don't give us nothing. It's our money, part of our money coming back to us. We've given them the money and they just send some back to us. They don't give us nothing really."

Cardiff - 29 June 2016

17. View over Cardiff Bay with National Theatre Wales in foreground

18. Close of sign reading (English and Welsh) "National Assembly for Wales."

19. SOUNDBITE (English) Andrew RT Davies, Welsh Conservative leader:

"Well, it's British money in the first place. It goes out there, and we leave 50 percent of that money out there and 50 percent comes back. So that's the narrative here. We are all for embracing cooperation with other countries, we are all for working as allies in national security and self-defence, but there comes a point where self-determination has to come into this as well."

20. Various of Andrew RT Davies, Welsh Conservative leader

21. SOUNDBITE (English) Andrew RT Davies, Welsh Conservative leader:

"Very often, these schemes will seem to be managed by elites and ultimately not delivering for the communities that were supposed to benefit, and so people actually used the opportunity of the referendum to say 'whoa, stop the car, I want to get out, the way this car is driven, we're going to hit a brick wall."

Pontypridd - 29 June 2016

22. Various of Jenny Hughes, co-founder of Pontydysgu, a Welsh educational research institute, looking at the company website

23. SOUNDBITE (English) Jenny Hughes, co-founder of Pontydysgu:

"So, all of a sudden, we personally can't tender for anymore, but more particularly, our partners or consortia that we work with are saying now, 'well, actually we don't want to work with you' - they do want to work with us but they don't feel they can because they don't know what's going to happen."

24. Hughes at her desk

Cardiff - 29 June 2016

25. Various of Ed Poole, lecturer in Politics and International Relations at Cardiff University, at his desk

26. SOUNDBITE (English) Ed Poole, lecturer in Politics and International Relations at Cardiff University:

"I would say that unfortunately, in the long term, Wales might have shot itself in the foot on an economic basis."

27. Cutaway

28. SOUNDBITE (English) Ed Poole, lecturer in Politics and International Relations at Cardiff University:

"It's not just the structural funds that benefit the poorest areas in Wales - that's to the tune of about 400 million (British) pounds (534 million US dollars) per year. It's also the agricultural policy, which is very specifically supporting small scale businesses, which is Wales' specialism because of the topography of Wales. It's about 260 million (pounds, 347 million US dollars) per year, and it's also access to the single market."

Merthyr Tydfil - 30 June 2016

29. Various of open-pit mine and surrounding landscape

Gina Miller needs to look no further than her own small investment firm to know that leaving the European Union would be bad for Britain.

She has an analyst who is Italian: would he need a visa? She has customers who are British retirees living in Spain: will they return home to keep access to health care and liquidate their euro investments? Her firm, SCM Direct, works closely with French bank Societe Generale: would that relationship continue?

"It could be terrible for the city,'' she said suggesting the impact could be similar to the 2008 financial crisis.

From the international banks in the skyscrapers of Canary Wharf to the traditional home of Britain's financial industry in the City of London and the hedge funds of Mayfair, bankers and money managers across the capital are watching the June 23 referendum on EU membership with trepidation. Many fear a vote to leave would undermine London's position as the world's pre-eminent financial center and damage an industry that underpins the British economy.

In case of a British exit, or Brexit, from the EU, US banking giant JPMorgan said last week that they would have to move staff to the continent to ensure it could continue to serve clients who want to invest there, Dimon said. Other global banks with customers in the rest of the EU would be in a similar situation.

Britain has been the gateway to the EU for many banks, brokerages and fund managers for decades. In addition to having a trusted legal system and institutions that operate in English, the language of international finance, London is in the right time zone to access most of the Earth during its working day and has a reputation for delivering top-notch financial services. The industry is also surrounded by an ecosystem of expertise, lawyers, accountants and consultants, to support it.

Some 60 percent of all European headquarters of non-EU firms are based in the U.K., according to TheCityUK, which lobbies on behalf of the financial industry. The UK hosts more headquarters of non-EU firms than Germany, France, Switzerland and the Netherlands put together.

London's advantages are such that people in favor of leaving the EU, such as Peter Hargreaves, co-founder of brokerage firm Hargreaves Lansdown, think it will retain its luster no matter what. He poured scorn on the notion that it could be easily replicated.

"In addition to the cost of building the infrastructure for a rival to the City of London one has also got to work out whether people will want to live in another financial center,'' he said. "They certainly wouldn't want to live in Paris, although Paris is a pretty city, purely because of the tax rates and in all honesty they wouldn't want to live in Frankfurt because actually there isn't even the housing there to house them. People want to live in London.''

London's financial sector has complained about a number of EU rules, such as limits on bankers' bonuses and an attempt to impose a tax on financial transactions.

Those considerations, however, are largely trumped by concerns that leaving the EU would make access to the other 27 EU countries more difficult, many analysts say.

The principle of "passporting" currently allows any firm registered in one EU country to operate in any other member state without facing another layer of regulation. It's the same principle that allows exporters to ship their goods to any EU country free of tariffs. Losing that freedom is a particular concern for the many foreign firms who use London not only as a financial hub but as an entry point into the EU.

While the UK could probably negotiate a new arrangement for trade in goods, it would be much more complicated to hammer out a deal on services, experts believe. The situation has no precedent, no country the size of the UK has ever left such an integrated economic union, so the outcome of any talks can't be predicted.

And anything that curtails Britain's financial industry has implications for the UK economy as a whole, not just the bankers who were pilloried for taking home million-pound bonuses while they fueled the global financial crisis.

The industry's importance is even more obvious in Britain's trade figures. While the country posted an overall trade deficit of 34.4 billion pounds (50 billion US dollars) in 2014, it generated a 72 billion pound surplus from exporting financial and related services.

"Uncertainty is bad news," said Vicky Pryce, an economist and former joint head of the UK government economic service.

"It will take some time for that to settle down, it will take some time for the negotiations to take place. There is a two year period during which officials and also ministers will have to sit down and try and negotiate a deal and we just don’t know whether even over that period something will come out that will be in the slightest bit beneficial for the city so a lot of uncertainty

The City of London - the square mile roughly bounded by the walls of the original Roman city - has been the financial heart of Britain since the 17th century, when merchants meeting at local coffee houses formed Lloyd's of London and the London Stock Exchange. It has survived wars, famines and fires and would likely survive any outcome from the EU vote. The question is in what form.

Jeffrey Evans, the Lord Mayor of the City of London, whose office has promoted The City as place to do business since the Magna Carta was signed in 1215, says leaving the EU in not a risk worth taking.

Speaking in an opulent drawing room that feels more like a museum, with Dutch masters lining the walls, Evans noted that leaving the EU is "a very important matter."

"This is a decision that will affect future generations," he said.

Gina Miller needs to look no further than her own small investment firm to know that leaving the European Union would be bad for Britain.

She has an analyst who is Italian: would he need a visa? She has customers who are British retirees living in Spain: will they return home to keep access to health care and liquidate their euro investments? Her firm, SCM Direct, works closely with French bank Societe Generale: would that relationship continue?

"It could be terrible for the city,'' she said suggesting the impact could be similar to the 2008 financial crisis.

From the international banks in the skyscrapers of Canary Wharf to the traditional home of Britain's financial industry in the City of London and the hedge funds of Mayfair, bankers and money managers across the capital are watching the June 23 referendum on EU membership with trepidation. Many fear a vote to leave would undermine London's position as the world's pre-eminent financial center and damage an industry that underpins the British economy.

In case of a British exit, or Brexit, from the EU, US banking giant JPMorgan said last week that they would have to move staff to the continent to ensure it could continue to serve clients who want to invest there, Dimon said. Other global banks with customers in the rest of the EU would be in a similar situation.

Britain has been the gateway to the EU for many banks, brokerages and fund managers for decades. In addition to having a trusted legal system and institutions that operate in English, the language of international finance, London is in the right time zone to access most of the Earth during its working day and has a reputation for delivering top-notch financial services. The industry is also surrounded by an ecosystem of expertise, lawyers, accountants and consultants, to support it.

Some 60 percent of all European headquarters of non-EU firms are based in the U.K., according to TheCityUK, which lobbies on behalf of the financial industry. The UK hosts more headquarters of non-EU firms than Germany, France, Switzerland and the Netherlands put together.

London's advantages are such that people in favor of leaving the EU, such as Peter Hargreaves, co-founder of brokerage firm Hargreaves Lansdown, think it will retain its luster no matter what. He poured scorn on the notion that it could be easily replicated.

"In addition to the cost of building the infrastructure for a rival to the City of London one has also got to work out whether people will want to live in another financial center,'' he said. "They certainly wouldn't want to live in Paris, although Paris is a pretty city, purely because of the tax rates and in all honesty they wouldn't want to live in Frankfurt because actually there isn't even the housing there to house them. People want to live in London.''

London's financial sector has complained about a number of EU rules, such as limits on bankers' bonuses and an attempt to impose a tax on financial transactions.

Those considerations, however, are largely trumped by concerns that leaving the EU would make access to the other 27 EU countries more difficult, many analysts say.

The principle of "passporting" currently allows any firm registered in one EU country to operate in any other member state without facing another layer of regulation. It's the same principle that allows exporters to ship their goods to any EU country free of tariffs. Losing that freedom is a particular concern for the many foreign firms who use London not only as a financial hub but as an entry point into the EU.

While the UK could probably negotiate a new arrangement for trade in goods, it would be much more complicated to hammer out a deal on services, experts believe. The situation has no precedent, no country the size of the UK has ever left such an integrated economic union, so the outcome of any talks can't be predicted.

And anything that curtails Britain's financial industry has implications for the UK economy as a whole, not just the bankers who were pilloried for taking home million-pound bonuses while they fueled the global financial crisis.

The industry's importance is even more obvious in Britain's trade figures. While the country posted an overall trade deficit of 34.4 billion pounds (50 billion US dollars) in 2014, it generated a 72 billion pound surplus from exporting financial and related services.

"Uncertainty is bad news," said Vicky Pryce, an economist and former joint head of the UK government economic service.

"It will take some time for that to settle down, it will take some time for the negotiations to take place. There is a two year period during which officials and also ministers will have to sit down and try and negotiate a deal and we just don’t know whether even over that period something will come out that will be in the slightest bit beneficial for the city so a lot of uncertainty

The City of London - the square mile roughly bounded by the walls of the original Roman city - has been the financial heart of Britain since the 17th century, when merchants meeting at local coffee houses formed Lloyd's of London and the London Stock Exchange. It has survived wars, famines and fires and would likely survive any outcome from the EU vote. The question is in what form.

Jeffrey Evans, the Lord Mayor of the City of London, whose office has promoted The City as place to do business since the Magna Carta was signed in 1215, says leaving the EU in not a risk worth taking.

Speaking in an opulent drawing room that feels more like a museum, with Dutch masters lining the walls, Evans noted that leaving the EU is "a very important matter."

"This is a decision that will affect future generations," he said.

London - 24 May 2016

1. Various aerials of Canary Wharf

London - 6 June 2016

2. Set up of Gina Miller, co-founder of wealth management company SCM Direct

3. SOUNDBITE (English) Gina Miller, co-founder of wealth management company SCM Direct:

"It could be terrible for the city because there is so much going on in the city, and we are seen as being one of the forefronts in the financial services and being a leader in that sector and if you look at all the modelling that has gone on there will definitely be a huge impact because a lot of the euro clearing happens in the UK. We have already seen that this first quarter of this year compared to last year, M and As - mergers and acquisitions - are down 39 percent, we've seen a real halt in foreign investment in the UK. If gilt markets - foreigners why would they want to buy our gilts, we could be hit in gilts we don't know what will happen with sterling. Nobody knows."

London - 24 May 2016

4. Aerial of the city

London - 22 May 2016

6. Pan of Bank of England

7. Pull focus from flowers to Bank

8. Workers and sign for Bank underground station

London - 24 May 2016

9. Set up of Jeffrey Evans, the Lord Mayor of the City of London

10. SOUNDBITE (English) Jeffrey Evans, the Lord Mayor of the City of London:

"Well, first of all it’s very important matter, it’s a, this is a decision that will affect future generations. The city of London we had, we reached a decision in March the corporation that we would take a position and that’s very strongly that we wish to remain in, it was a clear majority for that. And it’s, it’s very important the city of London is really, perhaps are most successful industry in the UK, recognises the financial, press and business services, we recogonise the importance of the EU to London and the UK."

London - 24 May 2016

11. Aerials of the city with the Shard and the Gerkhin

Bristol - 6 June 2016

12. Various of set up of Peter Hargreaves, co-founder of brokerage firm Hargreaves Lansdown

13. SOUNDBITE (English) Peter Hargreaves, co-founder of brokerage firm Hargreaves Lansdown:

"In addition to the cost of building the infrastructure for a rival to the City of London one has also got to work out whether people will want to live in another financial center. They certainly wouldn't want to live in Paris, although Paris is a pretty city, purely because of the tax rates and in all honesty they wouldn't want to live in Frankfurt because actually there isn't even the housing there to house them. People want to live in London it's got the best restaurants in the world, the best sport facilities in the world, the best theatres in the world, I mean why would anyone want to live anywhere else."

FILE: London - 22 February 2016

14. Various of trading floor and traders at GKFX brokers in London

Bristol - 1 June 2016

15. Set up Vicky Pryce, economist and former joint head of the U.K. government economic service

16. SOUNDBITE (English) Vicky Pryce, economist and former joint head of the U.K. government economic service:

"It is just possible, even if there is a 'Brexit vote', the UK we get some special allowance in terms of the way in which it operates, particularly in the service sector with the rest of Europe. But it will take some time for that to settle down, it will take some time for the negotiations to take place. There is a two year period during which officials and also ministers will have to sit down and try and negotiate a deal and we just don’t know whether even over that period something will come out that will be in the slightest bit beneficial for the city so, a lot of uncertainty. Uncertainty is bad news."

London - 24 May 2016

14. Aerials of the city

South Korea's government lowered its growth outlook and planned a supplementary budget for a second year in a row for Asia's fourth-largest economy as the global economy faces heightened uncertainty.

It estimated that the direct impact from the result of Britain's vote to leave the European Union is expected to be limited.

But there are concerns about negative repercussions from the increased uncertainty in the global economy and financial markets, it said.

The Finance Ministry said Tuesday that the economy will likely expand 2.8 percent this year, down from its December prediction of 3.1 percent.

Jobs would be a primary goal as the government plans a 10 trillion won (8.5 billion US dollar) supplementary budget during the second half of this year.

The additional budget, pending parliamentary approval, would be used to support major projects that create jobs.

In addition to the supplementary budget, the government would prepare a stimulus package that would total more than 20 trillion won, the country's finance minister said.

South Korea's government lowered its growth outlook and planned a supplementary budget for a second year in a row for Asia's fourth-largest economy as the global economy faces heightened uncertainty.

It estimated that the direct impact from the result of Britain's vote to leave the European Union is expected to be limited.

But there are concerns about negative repercussions from the increased uncertainty in the global economy and financial markets, it said.

The Finance Ministry said Tuesday that the economy will likely expand 2.8 percent this year, down from its December prediction of 3.1 percent.

Jobs would be a primary goal as the government plans a 10 trillion won (8.5 billion US dollar) supplementary budget during the second half of this year.

The additional budget, pending parliamentary approval, would be used to support major projects that create jobs.

In addition to the supplementary budget, the government would prepare a stimulus package that would total more than 20 trillion won, the country's finance minister said.

YONHAP - NO ACCESS TO SOUTH KOREA

Seoul – 28 June 2016

1. Wide of meeting with economy-related ministers

2. Various of South Korean President Park Geun-hye

3. SOUNDBITE(Korean) Park Geun-hye, South Korean President:

"The unrest in the global financial markets can have a negative impact on us at any time through such ways as the outflow of foreign funds. We must respond with alertness."

4. Park speaking

5. Various of officials at meeting

6. Park speaking

7. SOUNDBITE(Korean) Park Geun-hye, South Korean President:

"As external uncertainty has increased due to Brexit, we ought to step up risk management for weaknesses in our economy. We will need to preemptively manage the (economic) health index, including foreign currency liquidity, and strengthen our defensive power against crisis, and as Brexit may ignite enormous change in the future, we need to see mid to long-term economic flow and review our economic strategies."

8. Wide of meeting

9. South Korean Finance Minister Yoo Il-ho entering briefing

10. SOUNDBITE(Korean) Yoo Il-ho, South Korean Finance Minister:

"In order to deter the shrinking of the job market due to restructuring and worsened external conditions and to minimise the difficulties of the public economy, we will carry out financial supplements of more than 20 trillion won (17 billion US dollars), including a revised supplementary budget for approximately 10 trillion won (8.5 billion US dollars). (We will) Use surplus of tax revenues, which is expected to be additionally collected by the end of this year, as the financial resource for the supplement budget so that fiscal deficit does not increase, and we will use part (of the tax revenue surplus) for redemption of national bonds to enhance financial health. Also we will beef up our efforts to improve domestic spending in response to Brexit and other worsening (economic) conditions overseas."

11. Yoo leaving

RESTRICTION SUMMARY: AP CLIENTS ONLY

SHOTLIST:

HOST BROADCASTER - AP CLIENTS ONLY

Davos - 19 January 2017

1. Start of session at World Economic Forum (WEF) on G20 and global growth

2. SOUNDBITE (English) Wolfgang Schauble, German Finance Minister: ++SOUNDBITE HAS SHOT CHANGES++

"I got Prime Minister May saying the UK will be a truly global economy. And that been agreed not (only) in the EU, it has been agreed in the global forum of the G20 in Antalya. Therefore a truly global economy has to stick what has been agreed globally, otherwise there will be a contradiction. And you can always count on UK. UK government is always, always very consequent and very strict. Therefore I have no problem.

3. Cutaway

4. SOUNDBITE (English) Wolfgang Schauble, German Finance Minister:

"No I don't think that we want to punish UK. And the position of Germany, German government has been from the very beginning, from the first say after Brexit decision of the British people, saying we will not punish Britain. I think we have not been happy on this decision; we are convinced it is not in the interests of UK, neither in the interests of Europe. Therefore our position is to limit, to minimise the damages for UK as well as for Europe. And that is what will be our position in the beginning negotiation as soon as they start."

5. Cutaway

6. SOUNDBITE (English) Wolfgang Schauble, German Finance Minister: ++SOUNDBITE HAS SHOT CHANGES++

"Even if you rely on trade agreements. I often listen to UK voices, 'Oh we have CETA (trade agreement) with Canada'. The trade agreement doesn't relate financial services, it doesn't include financial services therefore to negotiate the adequacy of regulations for financial goods, and services and products and the financial markets is very difficult and sophisticated thing and requires a lot of time and therefore we will see what will happen in the negotiation. I think we should not start the negotiation in threatening each other and we know everyone has his muscles but no one's muscles are as strong as they would like to have the muscles."

7. Wide of session

STORYLINE:

Germany's finance minister on Thursday said the UK should "stick to what has been agreed globally" on responsible tax policies.

Wolfgang Schauble's was speaking in a discussion on growth at the World Economic Forum (WEF) in Davos.

His comments come after British Prime Minister Theresa May pointed out on Tuesday that her country would be free to lower corporation tax should the European Union (EU) give it a punitive exit deal.

At the discussion in Davos, Schauble made clear that "we don't want to punish the UK" over Brexit.

He also discussed the "difficult and sophisticated" process of reaching new international arrangements for financial services, a key part of Britain's economy.

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Government officials throughout Latin America expressed concern for the markets and their country's economies given Britain's vote to exit the European Union.

In Mexico, Treasury Secretary Luis Videgaray held a news conference to announce that the government will cut public spending by more than $1.6 billion (31.7 billion pesos) in response to the economic uncertainty posed by Britain's exit.

He said Britain's action will have only "a very moderate" effect on Mexico. Only about 0.5 percent of Mexican exports go to Britain, which accounts for only about 2 percent of foreign direct investment in Mexico.

In Peru, a number of congressmen expressed concern over the possibility that the exit might increase European instability by encouraging more countries to leave the Union.

In Argentina, Susana Malcorra, Argentine Foreign Minister told members of the press that "we consider it as something worth worrying about."

Government officials throughout Latin America expressed concern for the markets and their country's economies given Britain's vote to exit the European Union.

In Mexico, Treasury Secretary Luis Videgaray held a news conference to announce that the government will cut public spending by more than $1.6 billion (31.7 billion pesos) in response to the economic uncertainty posed by Britain's exit.

He said Britain's action will have only "a very moderate" effect on Mexico. Only about 0.5 percent of Mexican exports go to Britain, which accounts for only about 2 percent of foreign direct investment in Mexico.

In Peru, a number of congressmen expressed concern over the possibility that the exit might increase European instability by encouraging more countries to leave the Union.

In Argentina, Susana Malcorra, Argentine Foreign Minister told members of the press that "we consider it as something worth worrying about."

Mexico City, Mexico - 24 June 2016

1. Authorities arriving to press conference

2. Wide of press conference

3. SOUNDBITE (Spanish) Luis Videgaray, Treasure Secretary:

"For this year 2016 we have instructed a second cut in public spending, this time only in the federal government. This second cut does not include PEMEX, for a total number of $1.6 billion (31.7 billion pesos). From them, the 91.7% comes from the common spend."

4. Camera and podium

5. SOUNDBITE (Spanish) Luis Videgaray, Treasure Secretary:

"The Mexican government has covered 100% of it's funding necessities for the rest of the year. It is important to say this because when financial markets become volatile and complex it is the strength of our economy that the government has covered funding for the rest of 2016."

6. End of presser

7. Mexico City's main square and flag waving

Lima, Peru - 24 June 2016

8. Omar Chehade, Peruvian Congressman walking through a hall

9. SOUNDBITE (Spanish) Omar Chehade, Peruvian Congressman:

"I think (Brexit) is going to have a domino effect. Because Scotland will want to leave (UK) as they did before the referendum which it lost by very little in the United Kingdom a few years ago. Scotland will want to leave the United Kingdom and Ireland will want to do the same and it will cause chaos, the world cleaning house monetarily and economically cleaning house."

10. Room inside Congress

11. SOUNDBITE (Spanish) Yonhy Lescano, Peruvian Congressman:

"I believe it is an issue for the British people to decide if they want to leave the European Union. Obviously, it will have some effect, positive effects, negative effects. It seems that the European Union is very worried that it will have a negative impact."

Buenos Aires, Argentina – 24 June 2016

12. Argentine Foreign Minister, Susana Malcorra walking into press conference

13. Press conference

14. Members of media looking on

15. Close of lens of camera as it films Malcorra speaking during press conference

16. SOUNDBITE (Spanish) Susana Malcorra, Argentine Foreign Minister:

"The world is going through a very difficult time, of fear, of division. We see it in Europe, we see signs of it coming from the United States, a trend that is somewhat xenophobic in nature, where phobias of all kind are accentuating and we consider it as something worth worrying about."

17. Press conference

LEAD IN:

Red, pink, white, sparkling wines and a variety of other alcoholic beverages are quenching the thirsts of visitors to the Hong Kong Vinexpo.

Scotch whisky makers are still buoyant about business opportunities despite worries of Brexit (British exit from the European Union) causing a possible tax hike.

STORY-LINE:

It's a wine lover's paradise.

More than 1,300 exhibitors from all over the world are showcasing a wide range of wines and spirits to people looking for something of higher class in their glass.

The Chairman of Vinexpo, Xavier de Eizaguirre, says there is a slowdown in wine consumption in Europe and China. However he says while people are drinking less volume, they are buying more expensive bottles.

"It's really a trend, in Europe the main producing countries such as France, Italy and Spain have been consuming wines for generations. Today we see a change in terms of consumption habits. People drink less than in the past, but they drink better. So obviously that has an impact on the overall amount of wines consumed, but it's a very positive impact in terms of quality and also in terms of economics, because they drink more expensive wines than before," he says.

Scotch whisky sales remain strong and have a loyal following from consumers worldwide. But there are some concerns about sales if Britain leaves the European Union.

Scottish distillery Duncan Taylor Scotch Whisky Limited, who have almost 8 decades of experience, wants the United Kingdom to stay in Europe.

The company's chairman Euan Shand is concerned about possible tax increases and export regulations if the June 23rd vote decides the UK will leave.

Europe accounts for 40 percent of the company's market sale.

"If taxes go too high, people might not buy so much Scotch whisky, but I think deep down, Europeans have got a great palate for Scotch whisky and I can't really imagine that they're going to stop drinking it," says Shand.

This year is the 300th anniversary of Italian's famous Chianti Classico appellation. As the world's largest wine producer in 2015, Italy has harvested 49.5 million hectolitres of wine last year, according to the International Organisation of Vine and Wine.

The Italian wine company Marchesi Antinori Srl which started making wine in 1385 has its wine farms in the Chianti region, making its signature Chianti Classico wines.

The company is now expanding into in Asia, concentrating on China.

The Vice President of Marchesi Antinori SPA, Albiera Antinori says: "Our major market is still Italy, with 35 percent (sales) followed by North America, then the rest of Europe. For us, at the moment, Asia (market) is still very small, it's about 6 percent of our production. I think China will need a little bit of time to get to know Italian wines, so we just need to come here more and have the wines tasted."

The Hong Kong Vinexpo runs 24-26 May 2016

LEAD IN:

Red, pink, white, sparkling wines and a variety of other alcoholic beverages are quenching the thirsts of visitors to the Hong Kong Vinexpo.

Scotch whisky makers are still buoyant about business opportunities despite worries of Brexit (British exit from the European Union) causing a possible tax hike.

STORY-LINE:

It's a wine lover's paradise.

More than 1,300 exhibitors from all over the world are showcasing a wide range of wines and spirits to people looking for something of higher class in their glass.

The Chairman of Vinexpo, Xavier de Eizaguirre, says there is a slowdown in wine consumption in Europe and China. However he says while people are drinking less volume, they are buying more expensive bottles.

"It's really a trend, in Europe the main producing countries such as France, Italy and Spain have been consuming wines for generations. Today we see a change in terms of consumption habits. People drink less than in the past, but they drink better. So obviously that has an impact on the overall amount of wines consumed, but it's a very positive impact in terms of quality and also in terms of economics, because they drink more expensive wines than before," he says.

Scotch whisky sales remain strong and have a loyal following from consumers worldwide. But there are some concerns about sales if Britain leaves the European Union.

Scottish distillery Duncan Taylor Scotch Whisky Limited, who have almost 8 decades of experience, wants the United Kingdom to stay in Europe.

The company's chairman Euan Shand is concerned about possible tax increases and export regulations if the June 23rd vote decides the UK will leave.

Europe accounts for 40 percent of the company's market sale.

"If taxes go too high, people might not buy so much Scotch whisky, but I think deep down, Europeans have got a great palate for Scotch whisky and I can't really imagine that they're going to stop drinking it," says Shand.

This year is the 300th anniversary of Italian's famous Chianti Classico appellation. As the world's largest wine producer in 2015, Italy has harvested 49.5 million hectolitres of wine last year, according to the International Organisation of Vine and Wine.

The Italian wine company Marchesi Antinori Srl which started making wine in 1385 has its wine farms in the Chianti region, making its signature Chianti Classico wines.

The company is now expanding into in Asia, concentrating on China.

The Vice President of Marchesi Antinori SPA, Albiera Antinori says: "Our major market is still Italy, with 35 percent (sales) followed by North America, then the rest of Europe. For us, at the moment, Asia (market) is still very small, it's about 6 percent of our production. I think China will need a little bit of time to get to know Italian wines, so we just need to come here more and have the wines tasted."

The Hong Kong Vinexpo runs 24-26 May 2016

Hong Kong, 24 May 2016

1. Close of glass of different wines

2. Tilt up of rose wines (Price: US $13.4 per bottle)

3. Mid of rose wine with gold (Price: US $200 per bottle)

4. Close of bottles of wines with gold

5. Pan to right of various Italian wines

6. Mid of woman next to wine bottles in different sizes

7. Mid of visitors and wines on shelf

8. Wide of Xavier de Eizaguirre, Chairman of Vinexpo shaking and smelling wine

9. Close of Xavier de Eizaguirre, Chairman of Vinexpo tasting wine

10. SOUNDBITE (English) Xavier de Eizaguirre, Chairman of Vinexpo:

"It's really a trend, in Europe the main producing countries such as France, Italy and Spain have been consuming wines for generations. Today we see a change in terms of consumption habits. People drink less than in the past, but they drink better. So obviously that has an impact on the overall amount of wines consumed, but it's a very positive impact in terms of quality and also in terms of economics, because they drink more expensive wines than before."

11. Mid of man smelling a glass of white wine

12. Mid of Echezeaux Grand Cru wine (Left) in limited production of 2,400 bottles only (Price: US $558 per bottle) and Corton Grand Cru wine (Right) in limited production of 2,000 bottles only (Price: US$558 per bottle)

13. Wide of Meursault-Genevrieres Premier Cru wine in limited production of 900 bottles only (Price: US$1339)

14. Pan to left from Slovakian wine booth to Scotch whisky booth

15. Mid of visitors in a Scotch whisky booth

16. Tilt up of Euan Shand holding a glass of Scotch whisky

17. Close of a glass of Scotch whisky

18. SOUNDBITE (English) Euan Shand, Chairman of Duncan Taylor Scotch Whisky Limited:

"I could imagine that, Scotch whisky is sold in over 200 countries worldwide. I don't think if there's split up between Britain and Europe that people would stop drinking Scotch whisky. I think there's relationships formed over hundreds and hundreds of years, so I cannot imagine it is going to make a huge dent to Scotch whisky, but it depends on taxation. It's a fickle world out there and if taxes go too high, people might not buy so much Scotch whisky, but I think deep down, Europeans have got a great palate for Scotch whisky and I can't really imagine that they're going to stop drinking it."

19. Close of two bottles of Scotch whisky (US$78 per bottle)

20. Close of a bottle of Scotch whisky made in 1975 (US$1751)

21. Pan to right of Italian wine booths

22. Close of Italian wines

23. Wide of an Italian wine booth

24. Mid of Albiera Antinori, Vice President of Marchesi Antinori SPA pouring wine into glass

25. Close of Albiera Antinori, Vice President of Marchesi Antinori SPA tasting wine

26. SOUNDBITE (English) Albiera Antinori, Vice President of Marchesi Antinori SPA:

"Our major market is still Italy, with 35 percent (sales) followed by North America, then the rest of Europe. For us, at the moment, Asia (market) is still very small, it's about 6 percent of our production. I think China will need a little bit of time to get to know Italian wines, so we just need to come here more and have the wines tasted."

27. Wine of various Italian wines

28. Close of Castel Del Monte Aglianico wine (Left) and Primitivo Salento wine (Right)

29. Mid of visitors

30. Tilt down from chandelier to wines on shelf

31. Mid of two men tasting wine

32. Mid of a wine tasting event

33. Close of man tasting wine

34. Shift focus of wine glasses

35. Wide of visitors

German Foreign Minister Frank-Walter Steinmeier said on Monday that Europe would become "much poorer if Great Britain will leave us."

Steinmeier was speaking ahead of an EU foreign ministers meeting in Luxembourg, three days before Britain holds a referendum on its membership of the European Union.

The Spanish Foreign Minister, meanwhile, said there were three possible scenarios for Britain if it left, including the "most probable", a solution similar to the Comprehensive Economic and Trade Agreement (CETA), which is a free trade agreement between Canada and the European Union, currently pending approval by the Council and the European Parliament.

Jose Manuel Garcia-Margallo y Marfil said Spain wanted to deepen the process of European integration to prevent Britain's exit from being interpreted "as the beginning of the end" for the bloc.

EBS

Luxembourg - 20 June 2016

1. German Foreign Minister Frank-Walter Steinmeier arriving and approaching reporters

2. SOUNDBITE (German): Frank-Walter Steinmeier, German Foreign Minister

"I always said, that my wish is that the British decide with a majority for remaining in the EU. I believe if they decide differently we will lose more than a country, we will lose a history and tradition of Great Britain within the EU which is and has been important for us. And I think, that Europe will become much poorer if Great Britain will leave us."

3. Spanish Foreign Minister Jose Manuel Garcia-Margallo y Marfil, arriving

4. SOUNDBITE (Spanish): Jose Manuel Garcia-Margallo y Marfil, Spanish Foreign Minister

"There are three possible scenarios - one where the United Kingdom would integrate into the European Economic Area, with Norway, Liechtenstein and Iceland, and in this case as you know, the free movement of people, goods, capital and services would be maintained, and the United Kingdom would contribute to the community budget. In this case the trade and investment relationships would not change significantly because the freedom of movement, in general, would be preserved. The second option is like that of Switzerland, in which the the free movement of people, goods, capital and services would also maintained but there would be no contribution to the community budget, and the third, which is the most probable, a formula similar to the CETA (Comprehensive Economic and Trade Agreement) which is the agreement with Canada. This is a free trade agreement which eliminates 99 per cent of customs duties on products being traded. I believe this is the most likely of options because it would answer to the Brexit camp's wish to control borders and limit the free movement of people without changing the flow of goods, capital and services and that is the Canadian formula."

5. Cutaway of minister

6. SOUNDBITE (Spanish): Jose Manuel Garcia-Margallo y Marfil, Spanish Foreign Minister

"Hungary has made an additional petition, which is a contribution of funds to compensate for the funds it would lose with Britain's exit, and the third formula, which is the one that the Spanish government is proposing is an acceleration of the process of European integration to eliminate contagion, and to eliminate any emulation effect and to demonstrate that Britain's exit is not the beginning (of the end) of the European process. The document which could serve as a foundation for this qualitative jump, this jump forward, would be the famous one of the five presidents which was presented last year. This is the formula that Spain endorses, to deepen the process of European integration to tackle any temptation to nationalise competences or take steps back in such a way that could lead to Britain's exit being interpreted as the beginning of the end."

7. Garcia-Margallo y Marfil walking towards building