Brexit Would Cause Big Problems for German Banks: German Financial Watchdog

June 13, 2016 Share Print 0

A British vote to leave the European Union would hit large German banks, given their heavy exposure to London, the head of German financial watchdog Bafin said in an interview with German newspaper Tagesspiegel.

Bafin President Felix Hufeld told the newspaper in an article to be published on Monday that he hoped Britons would vote to remain in the European Union.

If not, “the biggest banks would have the biggest problems,” the newspaper quoted Hufeld as saying. “They have the most activities in, and with, London,” he said.

Reuters

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.