No safety net for no-deal Brexit, warns BdE’s Alonso

UK banks should not rely on temporary rule waivers being granted in the event of a disorderly Brexit

Brexit negotiations
Under negotiation: temporary guarantees are not a given, says Alonso

European supervisors will not provide temporary guarantees to UK firms that would allow them to retain access to EU markets in the event of a disorderly Brexit, the deputy governor of the Banco de España has indicated.

The EU and UK hope to agree on the terms of a new relationship by October this year – with a transition period giving firms time to adjust to the new framework once the UK departs the EU on March 29, 2019. Failure to finalise the withdrawal agreement on time would torpedo the

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