It appears, just as we warned, that Brexit was indeed the first of many dominoes. Even before the Brexit result, a poll by Ipsos Mori showed that the majority of people in France and Italy want to at least have a referendum on leaving:

Meanwhile, over 40% of Swedes, Poles, and Belgians are in the same boat.

But now, as Martin Armstrong notes, Brussels simply went too far. They cross the line moving from an economic union to a political subordination of Europe. Now eight more countries want to hold referendums to exit the EU – France, Holland, Italy, Austria, Finland, Hungary, Portugal, and Slovakia all could leave.

With Hollande's approval rating at about 11%, and Merkel lucky she is not tarred & feathered, the Front National leader Marine Le Pen has pledged to hold a French referendum. Hollande rejected Le Pen's call for a refendum today during their meeting; prompting the following from the leader of France's far-right National Front party:

"We will see at the presidential election (next year) which candidates commit to organize a referendum.

You know I am one of those because for the past four years now I've said that six months after being elected, I would organize a referendum on the exit (of France) from the European Union, and that I would use these six months to negotiate with the European Union its transformation into a Europe of the nations, giving back to the French people four essential elements from its sovereignty: territorial, economic, monetary-budgetary and legislative."

Therefore, if LePen emerges victorious in next year’s presidential elections, that means the next major player in the EU after Germany is out and there goes the EU.

This entire civil uprising in Europe is underway ever since two months ago when Dutch voters overwhelmingly rejected a Ukraine-European Union treaty. Angela Merkel’s Germany now faces having to pay an extra 3 billion euros a year to the annual EU budget once Britain leaves.

This alone is prompting German government officials to propose that Britain is offered “constructive exit negotiations” to keep their dues coming in. Some are now talking about a quasi-membership for the UK calling it an “associated partner country” to keep the money flowing.

Yet the French government of Hollande just does not understand. The governor of the French central bank will exert pressure on UK banks. They are taking the view that it would be paradoxical if Britain could retain privileges after the withdrawal from the EU. First Banks are preparing apparently preparing to shift part of its employees in London to the continent. They obviously fail to grasp that it is European continental banks that are on the brink of collapse – not British.

Italian ministers warned on Saturday that the European Union MUST change course or risk total collapse after Britain’s vote to leave the bloc. The Italian Finance Minister Pier Carlo Padoan said. “A double reaction to Brexit is under way, one financial, one political. The financial one, at least until now, is limited. I am more worried about the political one.”

Indeed, the unthinkable is happening. And they worry the pound might crash? Pay attention to the euro.

http://www.zerohedge.com/news/2016-06-26/civil-uprising-escalates-8th-eu-nation-threatens-referendum