'This is the worst,' Alan Greenspan says of British break from EU
Former Fed Chairman Alan Greenspan told CNBC on Friday the U.K. vote to leave the European Union ushers in a period that's even worse than the darkest days of October 1987.
Britons voted by 51.9 percent to quit the 28-country union, shocking markets that had priced in a win for the remain camp.
"This is the worst period, I recall since I've been in public service," Greenspan said on "Squawk on the Street."
"There's nothing like it, including the crisis — remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away."