Official data cited by the Financial Times: banks across the EU27 have reduced their total assets tied to the United Kingdom from €1.94tn to €1.59tn in just twelve months: chiefly, the period from 06/2016 to 06/2017 #Brexit #EuropeanUnion #EU
— ッ MEDIOLANA® EDU (@Mediolana) December 3, 2017
The startling ▼17% year-on-year change is apparently a protection strategy: #banks in the bloc are shielding themselves against the threat of a 'no deal' scenario, which risks triggering existential-level uncertainty over financial contracts #EU #EuropeanUnion #UK #Brexit
— ッ MEDIOLANA® EDU (@Mediolana) December 3, 2017
The European Banking Authority – a regulatory agency which is now set to move from London to Paris owing to #Brexit – has stated that the 'cliff edge' of the UK's departure from the European Union is the main cloud hanging over the entire European banking system #EuropeanUnion
— ッ MEDIOLANA® EDU (@Mediolana) December 3, 2017
European Banking Agency risk assessment exercise: one-third of surveyed banks were concerned by the legal risks surrounding the UK crashing out of the European Union, including those pertaining to derivatives, data protection + the enforcement of judgements #Brexit #EuropeanUnion
— ッ MEDIOLANA® EDU (@Mediolana) December 3, 2017
To watch: as the 03/2019 deadline for exiting the EU draws ever-nearer, extreme levels of uncertainty could translate into outright exasperation at the fiscal and legal vacuum that the United Kingdom is dumping itself into #Brexit https://t.co/8XyDjGCDHe
— ッ MEDIOLANA® EDU (@Mediolana) December 3, 2017
Mediolana 