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The EU will be hit harder than Britain in case of Brexit with no agreement

The financial system of the EU will be harmed if Brexit goes without a deal, said Mark Carney, after one more hectic day in Parliament looked to budge the UK nearer to a way that he believes would produce huge economic repercussions in the country.

The BoE chief underscored that if continental Europe ends up with negative ramifications because of inability to make an agreement, it would not console Britain as ties with the EU would be cut.

The Treasury Select Committee was informed by Carney that the consequences in the bloc following Brexit without a deal would be an awful fragmentation of the capital market in the EU.


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