Amundi’s CEO warns of Brexit impact on rest of Europe

Amundi’s CEO Yves Perrier (pictured) has given his view on risks Europe and the markets would run if the UK appears to leave the European Union.

Perrier assessed that Brexit is not the most likely scenario to happen and that it is “definitely the least desirable outcome.”

“A Brexit vote would mark the beginning of a two year negotiation between the UK and the European Union, the outcome of which we cannot predict. In terms of the markets, it would lead to a period of increased uncertainty and volatility,” he said.

According to Perrier, the impact of a Brexit on the rest of Europe remains a bigger issue.

“The evolution of the European Union has always been somewhat ambiguous, but this would be the first steps backwards. In the context of rising nationalistic sentiments, Brexit could reinforce the idea that it is possible to ‘unpick’ Europe,” he highlighted.

Perrier added the only positive outcome could be that a Brexit vote would act as a catalyst strengthening the European project.

“By voting for Brexit, Britain would in effect give a bad answer to an important question: how does the structure of Europe furnish answers to citizens’ legitimate preoccupations about the project?

“We have reached the limits of the ‘technocratic’ phase of the European project. It is time to rekindle the positive spirit of European convergence by taking into account the specific and sometimes contradictory interests of the nations that make up the EU,” Amundi’s CEO underlined.

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