Lagarde warns Brexit could spark recession

LONDON: Britain's possible departure from the European Union represents a "significant downside risk" and could potentially push the nation into recession, International Monetary Fund chief Christine Lagarde warned Friday.

"A technical recession is one of the probabilities in the downside scenario in case of a Leave vote," Lagarde told reporters following publication of the IMF's update on the British economy, mirroring comments made on Thursday by Bank of England governor Mark Carney.