Mark Carney: Brexit is the first test of a new global order

Bank of England says UK must avoid protectionism in favour of international cooperation

Brexit is an acid test of whether it is possible to reshape globalisation in a way that offers the benefits of trade while allaying public fears about the erosion of democracy, the governor of the Bank of England, Mark Carney, has said.

Speaking in London, Carney said the ramifications of the UK's departure from the EU would be felt around the world and would determine whether it was possible to shrug off rising protectionism in favour of a new era of international cooperation.