Following today’s ‘meaningful vote’ in the UK Parliament, Simon Lewis, Chief Executive of AFME, said:
“Today’s lack of agreement on the Withdrawal Agreement means that the banking and finance industry still does not have certainty on a transition period, which is vital to ensure an orderly withdrawal process in March 2019.With 73 days to go, time is running out and the continued risk of a no-deal scenario is a growing concern.”
“As a result, our members are continuing to implement their contingency planning in order to minimise disruption in a no-deal scenario. Given the continued uncertainty, it is vital that action is taken by the UK, EU and Member States to provide clarity on solutions to address cliff edge risks in a no-deal scenario.”
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