Brexit's impact on Europe's peripheral economies

Concerns over Italian banks

Six years after the outburst of the eurozone crisis, the saga has entered a new chapter, writes Adrien Pichoud, chief economist at SYZ Asset Management.

Without minimising the scale of the previous episodes, this one may eventually be the riskiest that the monetary union has experienced so far, with the spark coming, ironically, from a country outside the eurozone. In a context of rising popular discontent toward politicians and the European Union, high unemployment and a still vulnerable financial system, the Brexit vote has opened a Pandora box for the eurozone's future. Investors fear eurozone problems 'bubbling under the surface' despite Italian bank rescue From a purely economic standpoint, Italy, Portugal and even more Irelan...