Barclays: Britain a Safe Haven from Disintegrating EU

[threegee]

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A British exit from the European Union could lead to the UK becoming a "safe haven" from a disintegrating Europe, Barclays has said.

Analysis from the bank said a 'leave' vote would open a "Pandora's Box" in the crisis-hit continent, and could dissuade Scotland from breaking away from the relative safety of the UK.

So, exactly the opposite of SNP claims!  Well... the SNP got the world oil price so right too!

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"If politics in the EU turned for the worse, the UK may be seen as a safe haven from those risks, reversing the euro's exchange rate appreciation", said the report's authors.

"In that environment, Scottish voters could be even less inclined to leave the relative safety of the UK for an increasingly uncertain EU".

The warning echoes fears that Europe, rather than the UK, would suffer the worst consequences of a Brexit. The chief economist of Deutsche Bank said earlier this week that Brexit would be "devastating" for the continent and consign Europe to a "second rank" power.

"The referendum is generally seen as a ‘UK’ issue, when it is better seen as a European issue" said Philippe Gudin of Barclays.

So, as the referendum approaches we can expect more and more alarmist nonsense from those who will really lose out:  global business, the political elites, and in particular euro politicians.