This isn’t meant to scare you, but let’s consider the absolute worst-case scenarios of “Brexit.”

All over the world, political scientists and financial professionals have been hunkered down trying to game out the economic implications of Britain’s surprise decision to leave the European Union. Many of them had already done various calculations, but now that the decision is real, a surfeit of new scenarios has emerged.

Most of the war-gaming has been focused on the direct economic blow to Britain. But the catastrophe-shouting there has almost certainly been overly loud: Yes, Britain’s economy is likely to suffer in the near term as the government reconstitutes and tries to negotiate its divorce with Europe. And yes, the pound will probably continue to lose value, and the uncertainty of Britain’s relationship with Europe will paralyze investment until new rules of engagement are put in place.

All of which will makes markets around the world shudder, shrug and generally behave like petulant teenagers. “Stocks have entered a new realm of volatility, unlikely to abate anytime soon,” according to a Wells Fargo research note issued on Monday. It warned, “Get used to it.”

But it would be wrong to focus exclusively on Britain when considering the possible financial ramifications and permutations. In a truly dire scenario, Britain is just the leading domino. It’s the next dominoes — most likely across the Channel — that matter more.