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Addressing a conference on financial supervision on Thursday, the European Central Bank (ECB) policymaker Ewald Nowotny warned that the dangers related to the Brexit are still underestimated.

Key Quotes:

“In Europe, we have … the challenges emerging from Brexit”.                

“I personally believe that, in relation to the potential dangers, that is in part still being underestimated”.

There were many signs that the risk of a hard Brexit was becoming “relevant”.