Deustche Bank chairman Paul Achleitner has warned about the UK’s potential exit from European Union. During a speech at a dinner hosted by American Council on Germany, he called the voting for Brexit an “economic disaster for the UK and a political disaster for the EU.” Achleitner also talked about the rise of populism in the US and Europe and the regulatory pressures, which in his opinion are preventing many European banks from making loans and stimulating economic activity. Market turbulence and long-term uncertainty for the UK are among other predicted results of Brexit. Deutsche Bank shares fell 3.6 percent last week, hitting their lowest levels since 1992.
