No-Deal Brexit Is Major Threat, Similar to 2008 Lehman Brothers Crash, Admonishes Banker

Sept. 13, 2019 (EIRNS)—The possibility of a no-deal Brexit could have an impact on the world economy similar to the Lehman Brothers bankruptcy in 2008, according to Chairman of Société Générale Lorenzo Bini Smaghi said, according to Sputnik today. “We have several risks in the global economy. I think the biggest risk in the short term is Brexit, because it is very difficult to forecast what will be the channel of transition to the world economy. And the psychological impact on the basement, on sentiment, could be very strong, and the transmission to the financial market can also be very devastating as we saw, for instance, with Lehman Brothers in 2008. So this is something that we have to monitor very closely,” the Société Générale chairman said.