© Stephane Mahe / ReutersMarine Le Pen
French far-right leader Marine Le Pen is the biggest risk to European financial stability, according to a Credit Suisse guide aimed at helping investors understand the upcoming political uncertainties facing the continent.
In the
guide, the Swiss bank analyzed possible outcomes in the upcoming Dutch, French and German elections, as well as the UK's triggering of Article 50 to kick-start Brexit, and Greece's debt negotiations.
Switzerland's second-biggest bank went on to offer three scenarios for Europe's near future.
The third and final scenario, dubbed the "Inferno" option, foresees National Front leader Le Pen being elected president of France. However, the bank's strategists do not consider this a likely outcome.
"Credit Suisse strategists take the view that the French presidential election... poses the most important risk for Europe this year," the bank said in a
statement, referring to the upcoming polls.
The bank added that while Le Pen faces great challenges to win the second round of the presidential election, "any narrowing of the polls in Le Pen's favor will create a high degree of volatility in the markets."
Comment: See also: Hollande claims his 'ultimate duty' is to ensure France won't choose Le Pen