Europe’s financial sector ‘prepared for no-deal Brexit’

Bank of France governor says sector ready for UK’s exit without Brexit divorce deal

  European Central Bank policymaker Francois Villeroy de Galhau, who is also governor of the French central bank. Photogrpah: Toru Hanai/Reuters

European Central Bank policymaker Francois Villeroy de Galhau, who is also governor of the French central bank. Photogrpah: Toru Hanai/Reuters

 

All preparations have been made to protect Europe’s financial sector in case Britain leaves the European Union without a Brexit divorce deal, said Bank of France governor Francois Villeroy de Galhau on Tuesday.

British MPs failed on Monday to resolve chaos around Britain’s EU departure, leaving the future direction of Brexit mired in confusion. “We have made all preparations at the European and national levels, including in case of a no-deal exit, to ensure that contracts continue to be honoured and financial sector clients are protected,” Mr Villeroy said on France Inter radio. - Reuters