British Banks Will Meet Huge Shake-up Upon Possible Brexit

European banks can face apocalyptic trouble should Britons vote to exit the Union. According to analysts, funding costs could spread bond deals.

This would mean huge troubles and even deficits for many EU banks connected to the strong UK financial institutions.

The EU's regulation on UK banks will disappear. Along with these are EU-standard deals disappearing with the imposition of new regulations from British banks alone.

Many EU financial institutions will be forced to scale back their operations after cementing their presence inside Britain to reach further markets.

Central Bank planning would be the one most hard-hit. According to analysts, the huge staffing changes in European and British banks could see the removal of EU banks' London-based operations.

However, JPMorgan Chase's CEO Jamie Dimon believes the situation isn't for the worse.

"One can reasonably argue that Britain is better untethered to the bureaucratic and sometimes dysfunctional European Union," he wrote in his annual letter to shareholders earlier this month. "The European Union began with a collective resolve to establish a political union and peace after centuries of devastating wars and to create a common market that would result in a better economy and greater prosperity for its citizens. These two goals still exist, and they are still worth striving for."