An EU referendum in France, one of the founding members of the economic bloc, runs the risk of undermining the euro, the currency shared by 19 of the EU`s 28 member states.
"However, Deutsche Bank has warned of the inconsistencies of likening the two votes.
"It is the difference between a benign global risk event and something that has the potential to go beyond a `Lehman`s moment`.
Le Pen, who is currently leading the race according to the latest BVA-Salesforce opinion poll, has vowed to hold a French referendum on EU membership if she is successful in winning France`s two-round leadership race.
"Make no mistake, there is the world of difference between tearing up bilateral and multilateral trade agreements, and, unwinding a monetary union as far reaching in scope as the EMU (economic and monetary union) project," Deutsche Bank said in a note Tuesday.
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