I am interested from the brexiters just how strong they think the European balance sheet is to deal even with a small recession, small currency volatility and a small credit crunch, the above is an absolute best case scenario.
Interesting was at a meeting today with a fair amount of CFOs, economists and strategists all experts in the Asian economies, Not one believed Brexit Would win and the most common comment was I wouldn't worry, cool heads will prevail or similar. why did they think that ? because Europe simply could not cope with the effects as there is fragile growth, high unemployment and little ammunition left to stimulate the economies or refloat the banks. Similar opinion on voting for the Donald, it is not discounted for as people don't believe it could happen.
I think some investment on the downside for Europe could be wise as I think that people are far more inclined to step off the cliff than the institutions believe. That said I thought the scots could walk off the cliff too.
On the positive side I learnt something new today and that is Australia is 9 months off recording the longest period of continuous growth in OECD history and is still growing also population increasing due to immigration by 1.5% a year so we are ready to help with the capital and skills flight if it comes