IanM
Journeyman Pro
- Joined
- May 18, 2009
- Messages
- 13,202
- Location
- Monmouthshire, UK via Guildford!
Serious concerns raised by the European Central Bank that a No Deal Brexit will seriously damage the individual EU country banks. Both France and Germany have trillions in U.K. investments and derivatives that have contract ends dates after Brexit day.
The EU is hurriedly putting together laws and financial instruments that will allow shifting of the contracts before Brexit day. However, concerns around breaches of contract could lead to court action.
The EU Commission has also said that any country’s banks that hasn’t moved their investments by Brexit day will not receive any concessions or assistance from the ECB.
Is this in the right thread?.... but if you analyse the ECB, instruments held in the UK is only one of their worries.... follow a chain if who owes who how much! Hence your other remark about "when to jump"
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