How long before we have a banking crisis?

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I have already written about some City sentiment I heard yesterday.

The Leavers had another point in common. They agree Italian banks will begin failing soon.

And that Deutsche Bank has been waiting to slide into insolvency.

After which the French banking system looks to  be pretty wobbly.

They were adamant that they did not want to be a part of these forthcoming failures, which they were sure would happen.

It seems that they may not have worked out counter-party risk and that being outside the EU in three years time will not change anything now.

The risk of an early autumn banking crisis does, however, at this moment look to be significant enough to take seriously.