Deutsche Bank’s chief executive, John Cryan, is being as candid as usual with his views on the UK's vote to leave the European Union.
The outspoken bank boss, who has the unenviable task of trying to reform the lumbering giant that is Deutsche, posted a statement on its website saying this is "not such a good day for Europe".
The post read:
I’m afraid that this is not such a good day for Europe. At this stage, we cannot fully foresee the consequences, but there’s no doubt that they will be negative on all sides.
As a bank headquartered in Germany and with a strong presence in the UK, we are well prepared. However, there’s no doubt that the uncertainty created by the referendum’s results will be a challenge.
Let me add a personal note: I am a strong supporter of the European project, which has brought peace and prosperity for more than 50 years.
As a Briton and a European, it especially saddens me that Europe has obviously lost its attractiveness for many of my fellow countrymen. It’s a clear signal to the EU to get closer to its people and to strengthen democracy.
The FTSE 100 has just opened in London following massive sell-offs around the world over-night and a sharp fall in the value of the pound.