FRANKFURT, Germany (AP) — A top European banking supervisor is warning that banks both in Britain and continental Europe need to be ready for a so-called hard Brexit. That's the scenario under which Britain would leave the European Union next year without a transitional period or extensive arrangements to ease the transition. Sabine Lautenschlaeger said Wednesday that "we cannot be sure whether the transitional period will really happen." The vice chair of the European Central Bank's supervisory division said banks that want to relocate from London to the 19-country eurozone should have submitted their license application already.
Banks Warned To Be Ready For Hard Brexit
Business Heds Index, Seattle Post-Intelligencer: Business
Wed, 02/07/2018 - 3:45am
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