Brexit makes euro zone sustainability less likely: JPMorgan CEO

October 7, 2016 2:04 PM EDT

JP Morgan CEO Jamie Dimon speaks at a Remain in the EU campaign event attended by Britain's Chancellor of the Exchequer George Osborne (not shown) at JP Morgan's corporate centre in Bournemouth, southern Britain, June 3, 2016. REUTERS/Dylan Martinez


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WASHINGTON (Reuters) - Britain's vote to leave the European Union has made it more likely that the euro zone will not be around in 10 years, JPMorgan Chase & Co (NYSE: JPM) CEO Jamie Dimon told bankers on Friday. "Brexit makes the chance of the euro zone not surviving 10 years from now five times higher," Dimon said at the Institute of International Finance's 2016 annual membership meeting in Washington.

Speaking at the same event, James Gorman, the chief executive of Morgan Stanley (NYSE: MS), said that the big winner from Brexit would be New York because business currently carried out in London would shift there.

(Reporting by Olivia Oran; Editing by Paul Simao)



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