Brexit, the most important event since the end of World War II

Credit Suisse expects to Britain a period of recession in the second half of 2016, significant interventions by the Bank of England and a generalized economic slowdown eurozone.

The bank expects this scenario as a result of the success of Brexit in the referendum, calling it in a statement "is the most significant withdrawal from the need for integration since the Second World War. While the current output path is not yet clear, however, there are profound implications for Britain. we expect a recession in the second half of the year and monetary interventions by the Bank of England ".

In addition, "we expect the Eurozone economy to slow, and that will strengthen Europe's support for populist movements of the right and the left, with the consequence of further fragment the Union."

According to Credit Suisse, "for the rest of the world the direct impact should be somewhat less, despite the risk of consequences on the real economy. The market probably will tend to focus more on the outcome of the US elections".

According to Credit Suisse analysts, the main problems, with regard to banks, will be derived from the cost of the loans that serve them to carry out lending to the economy, subjected to upward pressure. But the report points out that the ECB retains some room for maneuver to counter these effects: the rate cut on deposits; the expansion of the program to repurchase bonds that the ECB; enlargement of the range of securities that banks may grant warranty for calls operations Tiltro II. Measures, however, that do not help to see the bright future.