On Thursday, British voters will go to the polls to decide whether to remain in or leave the 28-member European Union (EU) and analysts are worried that, whatever the outcome, the Brexit referendum could have a knock-on effect throughout Europe.
One of the most significant referendums in recent British history, the outcome could have far-reaching consequences for both the global economy and the political landscape of Europe.
A result either way will have a significant impact on the U.K. and potentially Europe. A recent poll from YouGov showed that, out of seven countries polled, a majority in six of those felt that more countries would choose to leave the EU if a Brexit occurred.
Sixty-nine percent of Swedes believed it was likely there would be further exits from the EU "post-Brexit", with 66 percent of Danes and 57 percent of Norwegians feeling the same way.
"From the European perspective, the question of the outcome of the referendum is one thing, but I think if you take the broader picture then what the referendum shows is that you're dealing with these euroskeptic and populist parties everywhere across the continent these days and so either way, whether the U.K. stays or leaves, I think that the main takeaway here is that the days of ever closer integration are basically over," Carsten Nickel, a political risk analyst at Teneo Intelligence, told CNBC in a phone interview.
While the prospect of a Brexit triggering other countries in Europe to follow suit and decide to leave is not an immediate one it would "certainly sow seeds of doubt," according to Paolo Dardanelli, senior lecturer in comparative politics and acting director of the Center for Federal Studies at the University of Kent.