Brexit: No-Deal Brexit and Carney

brexit: However, there would still be major disruption for companies, according to The Guardian. Mark Carney, the Bank's governor, said The perceived likelihood of no-deal Brexit has increased since last year. Stating that the risk of Britain crashing out without a deal had risen, the Bank said the City of London was ready to withstand such a scenario and avoid banks failing, as they did in the financial crisis. Although the degree of preparedness for such a scenario has improved, material risks still remain. Although such disruption would primarily affect EU households and businesses, it could amplify volatility and spill back to the UK in ways that cannot be fully anticipated or mitigated, he said. He said the absence of further action by Brussels to get ready for Brexit could leave the door open to disruption for banks and their customers in the EU, while warning that the UK would face material economic disruption from a no-deal departure. (news.financializer.com). As reported in the news.