Euro zone remains ready in event of no-deal Brexit - ECB's Lane

[DUBLIN] The euro zone was ready for a no-deal Brexit in March and remains ready in the event of a chaotic British departure, the chance of which is higher than a few months ago, incoming European Central Bank chief economist Philip Lane said on Wednesday.

"A no-deal Brexit, we've had years to think (about) it, prepare for it. All that preparation was ready for the end of March. It remains ready," said Lane, who will leave Ireland's central bank to join the ECB's executive council full time next week.

"In terms of the work to avoid the financial instability of being unprepared, that work is done and of course for the ECB, the UK is a trading partner (of the euro zone), it will enter our calculations but it is only one trading partner among many," he told a news conference.

REUTERS