Despite talks about the European Union disintegrating after the United Kingdom referendum, the bloc will be OK, Pierre Moscovici, European commissioner for economic and financial affairs, said Friday.
"It is certainly a new start for Great Britain, because the U.K. chose another future than being in the EU. We'll have to define a new special relationship with the U.K., and we'll have to negotiate the way the Brexit happens," Moscovici told CNBC's "Squawk Alley." "But it's also a fresh start for the EU."
"It's a very sad moment for those who love Europe, but it's also a moment to reinvent the economic project," he said.
The U.K., the EU's second-largest economy, held a referendum where citizens voted in favor of leaving the economic and political bloc, sending financial markets into a frenzy.