The June 23rd referendum in the United Kingdom, which could eventually lead to the Brexit is not really the biggest threat in Europe, it’s really the migrant crisis. It has already done the damage in dividing a decade-long Union. Despite opposition from Germany, Austria closed its borders with consultation with the other Baltic States in a meeting where Germany wasn’t even invited. Such unprecedented moves have been very rare in Europe, until now. The Brexit referendum has also been influenced by the refugee crisis. Europe led by Germany probably did take a humanitarian step by granting asylums to millions of refugees, however, without thinking it through.

While terrorist attacks get largely reported by broader media, however, other sex offences and hooliganism stay out of mainstream media. There have been allegations that Swedish authorities tried to cover-up sex offences by migrants. It wouldn’t be an exaggeration to say that the Europe is passing through one of the most volatile times in modern history, probably since the Second World War.

We strongly feel that Britain is unlikely to be the only victim of an exit from the European Union. There would be more to follow suit as the migrant crisis and the threat of terrorism reaches next level. No country in Europe is prepared against Islamic lone-wolf terrorism. For example, despite recent attack in Normandy France in a Church that led to the throat slitting of a priest, France can’t just protect all of its churches. There are more than 40,000 churches in France and the country simply doesn’t have enough police officers to guard them all and maintain law and orders elsewhere.

Countries like Germany, Sweden, Italy, Switzerland, France, Netherlands and the United Kingdom were the countries that accepted the biggest share of refugees since 2014. The UK has already suffered the consequences and these countries are also likely to suffer. Next year, both Germany and France are heading towards Federal election and we expect the consequences of the crisis would be visible. Germany could see the end of Merkel era, whereas right-wing populist Marine Le Pen could seize victory in France.