'This will be the most consequential thing postwar that we’ve ever seen'.
A U.K. vote in favour of leaving the European Union would be the most significant geopolitical event for the Continent since the end of World War II and could prompt Morgan Stanley to move its local headquarters to Dublin or Frankfurt from London, said bank President Colm Kelleher.
“This will be the most consequential thing postwar that we’ve ever seen,” Kelleher said Wednesday in an interview on Bloomberg Television with Erik Schatzker. “Initially, the fallout can be controlled, but the political ramifications are actually quite profound.”
Bloomberg News reports that financial markets have been on edge ahead of the U.K's referendum on membership in the EU. The latest polls show the outcome is too close to call, though betting shops on Tuesday put the probability of a vote to leave the EU at about 26%. The uncertainty comes as investors are grappling with continued signs that global growth remains tepid.
“We’re hoping that the British voter will show sense and listen to the economic arguments and stay,” Kelleher said. “But we clearly are looking at our plans,” he said, adding that the firm would consider moving its European headquarters from London.
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