Obama at NATO summit: Brexit isn't doomsday

Warsaw, Poland (CNN)President Barack Obama encouraged leaders in Europe to streamline their bureaucracies Friday after Britain's shock vote to exit the European Union, but added that fears of "Brexit" fallout are overblown.

Speaking after a meeting with the presidents of the European Commission and the European Council, Obama said the undercurrents of economic anxiety that led to "Brexit" must be addressed.
"Our governments, including the EU, cannot be remote institutions; they have to be responsive and move more quickly, with minimal bureaucracy, to deliver real economic progress in the lives of ordinary people," Obama said in Warsaw, where leaders from NATO are gathering for a summit.
Obama campaigned actively against a British exit from the EU, traveling to London a month ahead of the vote to push back against the leave campaign arguments against immigration and trade. In the aftermath, he's urged calm and insisted the UK-EU divorce not be rushed.
    He said Friday that doomsday rhetoric about the Brexit was overblown.
    "This has led some to suggest that the entire edifice of European security and prosperity is crumbling," Obama said. "There have been those who have been questioning what does this mean for the transatlantic relationship. Let me just say, as is often the case in moments of change, this kind of hyperbole is misplaced."
    U.S. officials say the security ramifications of the Brexit won't be significant in the short-term, though a distancing of the U.K. from the European security apparatus could pose challenges in the future. White House aides said a goal of this week's NATO summit in Poland was to increase cooperation between the military alliance and the European Union.
    In Warsaw, Obama was expected to speak face-to-face with his closest allies, including outgoing U.K. Prime Minister David Cameron and German Chancellor Angela Merkel. But with Britain not expected to file formal paperwork to begin the exit until the fall, the actual task of maintaining stability will fall to Obama's successor.
    Speaking after Obama, European Council President Donald Tusk insisted the British vote would not be a precursor to further splits within Europe.
    "Brexit, as sad and meaningful as it is, is just an incident and not the beginning of a process," Tusk said. "And to all our opponents, on the inside and out, who are hoping for a sequel to Brexit, I want to say loud and clear, you won't see on the screen the words 'To be continued.'"