From ACT Wiki
Capital flight is the movement of capital, under stress, to safe haven countries.
Eurozone referendum risk
- "People do not realise what it would mean if Italy, for example, voted in a government that decided to hold a referendum to exit the eurozone.
- Just the viability of a referendum would accelerate existing capital flight and increase the TARGET2 imbalances dramatically.
- One would theoretically have to impose capital controls on the eve of the election result to prevent the system from melting down."
- The Treasurer magazine, April 2017, p28 - Roland Hinterkoerner, founder, Expertise Asia.