Continuing with his interview on BBC Radio this Friday, the BoE Governor Mark Carney was further noted saying that no deal Brexit highly undesirable and it is absolutely in the interest of the UK and EU to have a transition deal.
Additional quotes:
“¢ UK, EU should do all they can to avoid a no deal Brexit.
“¢ A no deal Brexit is relatively unlikely but possible.
“¢ We will not be in a situation of runs on banks in any type of Brexit.
“¢ UK government has done what it needs to for preparing banks for Brexit, the EU has more to do.
“¢ The financial system will be ready for undesirable, unlikely scenario of no deal Brexit.
“¢ UK economy has grown by a percentage point less than we had predicted prior to Brexit vote.
“¢ When asked if we need a long transition, the answer was ‘yes’.
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