ECB’s Nowotny: Danger of hard Brexit is becoming more relevant

Addressing a conference on financial supervision on Thursday, the European Central Bank (ECB) policymaker Ewald Nowotny warned that the dangers related to the Brexit are still underestimated.

Key Quotes:

“In Europe, we have ... the challenges emerging from Brexit”.        

“I personally believe that, in relation to the potential dangers, that is in part still being underestimated”.

There were many signs that the risk of a hard Brexit was becoming “relevant”.