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Citing an EU official with direct knowledge of the matter, Reuters reported that Britance finance minister, Philip Hammond, urged the European Commission to help devise contingency plans for the financial sector in Europe in case of a disorderly Brexit.

Key quotes

  • Uk finance minister Hammond told EU finance ministers this month the UK was preparing contingency plans for the financial sector in case of no Brexit deal.
  • The Commission said it would engage in Brexit contingency plans if necessary but saw limited problems for financial contracts.