Mark Carney on Brexit

Article from the online version of The Telegraph

 

Mark Carney, the Governor of the Bank of England, has described the prospect of a British exit from the European Union as the "biggest domestic financial stability risk" facing the UK.

In this article, see link above, you can read his views on:

 

On the economy:

Mr Carney stressed that, in the long term, the Bank of England had the tools to deliver financial stability, whether Britain was in the EU or not.

However, he said the short term, the impact of a Brexit could "bring some challenges to financial stability".

 

On the City of London:

If Britain left the EU and policymakers could not secure the same business conditions for the City that it enjoys today, it would "without question" hit UK jobs and growth, Mr Carney said.

 

On trade deals:

Sir Jon poured cold water on the prospect of swift trade deals with Britain's most important partners.

He described trade negotiations as "slow moving" and said they often took a "number of years" to complete. He used the example of the EU's agreement with Canada, which is currently in its eighth year

 

Read the full article here: http://www.telegraph.co.uk/business/2016/03/08/brexit-five-things-we-learnt-from-mark-carney-and-the-bank-of-en/

Posted on Tuesday Mar 8
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