Hard Brexit Means a Hard Border for 6,000 Stocks
The toxic political mood is infecting financial regulation. European and British supervisors are planning drastic measures in the event of no deal.
Ireland isn't the only one worried about a hard border after Brexit.
Photographer: Oli Scarff/Getty Images EuropeWe’re eight days away from the official Brexit deadline and things aren’t going well. Westminster is in disarray, Theresa May’s deal is in tatters and EU leaders aren’t sure of how to delay the shambles, if at all.
With politicians unable to patch things up, European and U.K. financial supervisors have been among the few adults in the room. They’re made reassuring moves to calm investors in the event of a no-deal Brexit, promising to preserve continuity in critical areas of the financial system such as the $400 trillion derivatives market. A truce of sorts has emerged.