Brexit vote could turn UK into a Barclays said financial markets had failed to grasp the sheer "breadth" of the British vote, calling it one of "the most significant global risks of the year", and one which could lead to the collapse of the European project.
Investors have been selling off the pound in anticipation of an EU referendum, which could take place as early as the summer. Sterling has depreciated by 9pc against the single currency since November. But if Britain voted for an EU exit, the political and institutional reverberations on the continent would be far greater than any economic fall out, said the bank, who compared the implications to that of a "Grexit". The warning echoes fears that Europe, rather than the UK, would suffer the worst consequences of a Brexit. Deutsche Bank's chief economist said earlier this week that pandora phone charm Brexit would be "devastating" for the continent, consigning Europe pandora charms schweiz to the status of a "second rank" power. 'Devastating' Brexit will consign Europe latest pandora bracelet to a second rate world power "The referendum is generally seen as a 'UK' issue, when it is better seen as a European issue" said Philippe Gudin of Barclays. Analysts highlighted the "emotionally charged" immigration debate as a "wildcard" which could see the UK leave the EU.
Survey data shows concerns about immigration have surged to become the most important issue facing the EU, according to voters elicpsing pandora phone charm fears over economy, terrorism, and unemployment since the start of 2015. Should Brexit occur, this would embolden other member states who are struggling to control immigration and unleash a fresh wave of turmoil in the EU, said Barclays. "The UK would present continental opponents of immigration with a politically potent example (and threat) of how to deal with one of the thorniest and most emotionally charged trans national issues confronting European voters", they said.
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