Brexit vote could turn UK into a 'safe haven' triggering EU disintegration, say Barclays

Analysis from the bank said a 'leave' vote would open a "Pandora's Box" in the crisis-hit continent, and could dissuade Scotland from breaking away from the relative safety of the UK.

Barclays said financial markets had failed to grasp the sheer "breadth" of the British vote, calling it one of "the most significant global risks of the year", and one which could lead to the collapse of the European project.

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The warning echoes fears that Europe, rather than the UK, would suffer the worst consequences of a Brexit. Deutsche Bank's chief economist said earlier this week that Brexit would be "devastating" for the continent, consigning Europe to the status of a "second rank" power.