Brexit "serious" for both Britain, EU: Swedish PM

Brexit will have grave consequences for both Britain and EU, said Swedish Prime Minister Stefan Lofven after the announcement of the results of the British referendum on EU membership.

"It is now clear that the people of the United Kingdom have voted to leave the European Union. We respect their decision, but it is a serious one -- primarily for the people of the UK, who had a great deal to gain by remaining, but also for the EU," Lofven said at a press conference on Friday.

Sweden was losing an important partner in the EU, he said. "We have often pursued issues together, not least important were trade issues," he said, but assured Britain would remain an important partner for Sweden in its new role.

"What we need now is stability and a long-term approach. The fact that the UK is leaving the EU will have major repercussions. But we remain convinced of the importance of European cooperation. Our need for effective European cooperation has never been greater. This is particularly true for Sweden," said Lofven.

Among the benefits belonging to Europe offered, the prime minister listed greater opportunities to resolve problems, enhancing the conditions for more jobs and higher growth, and safeguarding peace and security.

"At the same time, the debate and campaigning in the run-up to the referendum should serve as a wake-up call for Europe. They elicited stark polarisation and disturbing nationalism. This shows that EU cooperation must be developed and improved," he said.

"We must be able to demonstrate that our cooperation is actually capable of tackling our common challenges in the way that people expect it to. We must have fair conditions in the European labor market. Climate and environmental challenges know no borders. And all EU member states must take responsibility for the refugees fleeing to Europe." said Lofven. Endit