: I still think that a lot of people in our creditors are assuming that it'll all come right, according to Euro News. They're not ready for an earthquake. I think this would be a hell of a shock, Gieve told Bloomberg TV. As you see, the polls are evenly balanced. Sterling looked on track for its biggest gain in seven years on Monday as polls pointed to an increased likelihood that Britons would vote to remain in the EU. Gieve, who served as the BoE deputy governor for financial stability from 2006 to 2009, said the central bank first job if Britain left the EU would be to calm markets, and then ensure it remained credible over the months to come. The BoE is holding more money market auctions than usual around the referendum to ensure banks do not run short of cash. For the first few months, the key task of the Bank and the government is to establish some credibility with the international markets – that they have a plan and that they be trusted to stick to it, Gieve said.
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