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JPMorgan CEO Dimon issues stark warning about 'catastrophic' events if Italy leaves the euro

Jamie DimonGetty/Win McNamee

  • JPMorgan boss Dimon warns of "catastrophic events" if Italy attempts to leave the eurozone.
  • "Because of the way it has been designed, the European Monetary Union would be hard to reverse without causing catastrophic events," Dimon told Italian paper Il Sole 24 Ore.
  • Dimon also warned about Brexit, saying it "could turn out to be tough for the British people."

JPMorgan boss Jamie Dimon has warned Italy's populist government of the likely "catastrophic" consequences that would come from attempts to pull the country out of the eurozone.

Speaking to Italian newspaper Il Sole 24 Ore, Dimon said that because of the structure of the European Monetary Union — the formal name for the project to converge monetary policy of the eurozone — pulling out would not only be immensely difficult, but also immensely dangerous for the stability of the global financial system.

See the rest of the story at Business Insider

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