by Paul Colgan
Societe Generale’s latest update to its famous “black swans” chart is out.
“Black swan” events are those which are unlikely to occur but, should they come about, would cause chaos on global markets.
Europe’s stability has re-emerged as the major cause of concern as the Brexit referendum approaches. Soc Gen has placed a 40% probability – a very high number for the black swans schematic – on political or policy uncertainty in Europe unleashing financial market ructions.
Soc Gen explains: