Shock eurozone warning: EU currency facing COLLAPSE post-Brexit, warns top banker

Tuesday, August 2, 2016
By Paul Martin

THE eurozone is facing a catastrophic meltdown as a result of the Brexit vote, a senior finance executive has warned.

Tue, Aug 2, 2016

Jamie Dimon, CEO of American banking behemoth JPMorgan Chase, made the dire prediction for the European currency amid signs of a major slowdown across the continent.

The top banker said a collapse of the euro could happen as soon as 2021, telling a US broadcaster: “It may take more than five years, but it may very well happen.”

Mr Dimon, who warned before the Brexit vote that leaving the EU would be a “terrible deal” for the UK, said the referendum result had sent shockwaves throughout the continent.

He said: “What is the ultimate outcome? We simply don’t know.

“We’re probably not going to know for years and that uncertainty is going to have an effect.

“We have to be prepared for whatever the outcomes are and since we don’t know, we’ll work on it.

“That may require us to do things differently to what we do today.”

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