As soon as the Britain voted to leave the European Union, it has caused financial turmoil in the Europe and the European financial market remains volatile.

The research team at ANBOUND Consulting believes a major crisis in the European banking industry is forming, of which the banks in the Germany and Italy are the source of the risk.

The crash in any European bank will cause chain effect, affecting the whole banking industry and the European economy, triggering earthquake in the global economy and financial market.

China should study the potential impacts and develop the response plan accordingly.