Michael Bloomberg: 'UK would be disadvantaged' leaving EU

Michael Bloomberg, former mayor of New York, said that "the UK would be disadvantaged" if it left the European Union and, in turn, wouldn't benefit America.

"I don't know dire is the right word, I just think that the UK would be disadvantaged compared to the situation they have now," the US billionaire business magnate said.

"They have some abilities to influence the dialogue that without which, they would; and America which is my concern, would not benefit."

(Image: Michael Bloomberg. Credit: BBC)