Here Is the Worst Case Scenario for the Markets After Brexit

The worst that could happen should the UK leave the European Union is a 15 percent slump in the pound against the dollar, according to one analyst. 'We've had some fairly absurd theories thrown around in terms of the volatility a Brexit could generate,' said Jasper Lawler, a market strategist with CMC Markets in London. 'Notably, George Soros who called for a 15 percent plus drop in the pound - that is the worst case scenario.' This is the type of decline seen in 1992 when Britain exited the European Exchange Rate Mechanism. 'That event was a complete shock - no one expected it coming,' he said. 'I think it would be very surprising should we see a move like that because we've known about [the Brexit possibility] for months and markets should be prepared for this.' TheStreet's Scott Gamm reports from Wall Street.