Brexit Will be a Disaster, According to Deutsche Bank

June 20, 2016

Deutsche Bank is one of the largest foreign exchange dealers in the world with more than 100,000 employees in over 70 countries, but the company’s stock recently hit a new record low since 1992 as the EU referendum is nearing.

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The German bank has operated in the U.K. since 1873, and much of its investment banking operation is based in London as well as an office in Birmingham. Deutsche Bank AG Chairman Paul Achleitner said: “A yes vote next week to so-called Brexit would be an “economic disaster for the U.K. and a political disaster for the EU.”  Achleitner also lamented the growing strains of populism in the U.S. and Europe and the regulatory pressures, which he said are preventing many European banks from making loans and stimulating economic activity.

Deutsche Bank is also the top stocks that will be influenced by a Brexit according to Sentifi’s BrexitLive widget. Further stocks are Morgan Stanley and Commerzbank. Acoording to Deutsche Bank, Germany’s DAX will be the worst hit individual index on the continent, falling as much as 10%.

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Sentifi – Brexit Widget

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