The (IMF) has said and warned the world that Brexit is the biggest risks for worldwide financial stability.
They as part of its new stability report the IMF said that all financial institutions must step up there preparations for a post-Brexit landscape.
The worst case scenario a no deal Brexit otherwise know as a hard Brexit is where the UK would crash out of Europe with no agreements in place. This will affect cross-border trades, financial institutions and services.
The IMF is now saying all financial institutions need to look at new measures for a no deal Brexit.
The IMF Report which comes out every two years is the most comprehensive and has been Reported every two years since the 2008 crash.
The IMF has also said leaving Europe without a deal would affect market sentiment and leave Europe trapped in market fragmentation, which means money and the banks won't be able to flow cash around the system efficiently.
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