Sunday 25 October 2020

ECB ready to manage financial impact of Brexit vote

ROME, June 24, 2016

The European Central Bank is ready to manage impact on financial markets and the banking system of the British vote to leave the European Union, a senior ECB official said on Friday.

"The ECB is ready, today everyone is in place and there will be instructions from the governing council," Ignazio Angeloni, a member of the ECB's supervisory board, said at a conference in Rome.

He added that the fact that attempts to create a banking union in the EU had not been completed, leaving a "half-baked cake", was an added element of risk in the wake of the British decision.

Global financial markets plunged after referendum results showed a near 52-48 percent split for leaving. - Reuters

Tags: | European Central Bank | banking system | Brexit vote | British vote |

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