GIBRALTAR’S Chief Minister has warned that if the UK exits the EU it could create an ‘existential issue’ with political and economic consequences.

Fabian Picardo said the Rock’s EU membership has boosted its ability to stand up to Spain, particularly to its attitude towards freedom of movement and border controls.

“Of course Gibraltar would always be able to survive but I don’t think Gibraltar would be able to thrive economically should we be outside the EU,” said the Chief Minister.

Picardo denounced the issues surrounding a UK exit on BBC Radio 4’s Today programme and deplored the problems Gibraltar would have to face should it be unable to profit from rulings by the European Commission.