EU has much to lose from Brexit damage to UK banking system: Carney

London

MARK Carney has warned that the European Union has a lot to lose from any damage that Brexit does to the British banking system.

"The UK is effectively the investment banker for Europe," the Bank of England governor said at a press conference on the publication of the Financial Stability Report (FSR). "These activities are crucial for firms in the European Union economy, and it's absolutely in the interest of the European Union that there is an orderly transition and that there's continual access to those services."