Watch out for Brexit cliff edge 2.0, experts warn
Measures to mitigate a sharp rupture for financial services could be less likely at end-2020
UK and European investment banks potentially face a new cliff-edge Brexit, with a temporary transition period treating UK firms as if they were still in the European single market set to expire on December 31. The lack of no-deal Brexit relief measures this time around could make the new precipice more painful than the originally mooted exit date, experts warn.
“Now, the end of the transition period is the new cliff edge,” said Christopher Bates, a partner at law firm Clifford Chance, speaking
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