Draghi warns of dangers of ‘cliff-edge Brexit’

Mario Draghi of the European Central Bank
Mario Draghi: “…uncertainty triggered by a cliff-edge Brexit could have the potential to pose a more significant downside risk to financial stability”

There could be “significant” risks to financial stability if the UK stages a “cliff-edge Brexit”, European Central Bank president Mario Draghi has warned.

If the UK managed an “orderly withdrawal” from the European Union there would be only a “limited overall risk to the euro area’s financial stability”, Draghi said in Indonesia on October 12. “However, the uncertainty triggered by a cliff-edge Brexit could have the potential to pose a more significant downside risk to financial stability.”

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