JP Morgan row back on Brexit jobs threat, EU in trouble
Investment bank JP Morgan has rowed back on a warning that 4,000 jobs could be cut by them if the UK voted to leave the EU on June 23rd.
Jamie Dimon, who alongside George Osborne said that the firm would have to act quickly in moving jobs, now says that: “This does not entail moving many people in the next two years”.
Moreover, Dimon now warns that the real danger lies in the dysfunctional European Union, explaining that: “Our fear, however, is that it could instead result in political unrest that would force the EU to split apart. The unravelling of the EU and the monetary union could have devastating economic and political effects.
“While we are not predicting this will happen, the probabilities have certainly gone up – and we will keep a close eye on the situation in Europe over the next several years.”
The EU is of course doomed. You cannot force a false identity, flag and anti-democratic political system onto citizens who don’t want it. Whether you look at France, Holland or Poland, anti-EU sentiment is now spreading like wildfire across this failing Union.
Looks like the real gamble isn’t in Brexit Britain, but in an increasingly disjointed EU bloc.