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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.
One of the points the departure campaign harped on was immigration, and the need for stricter regulation on the matter, which "might be one of the reasons why the leave campaign won," Moscovici said. "They put the whole campaign on immigration and neglected the fact that, first of all, we are an economic, sociopolitical project."
That said, both the EU and U.K. will continue to work closely even after Britain leaves the EU, Moscovici added.
"The U.K. might not be an EU member tomorrow, but it is still a European country," he said.