Hammond: Delay Brexit for risks to financial stability

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‘British Chancellor Philip Hammond has called for a delay to completing the Brexit process, saying it might otherwise pose “risks to financial stability.”

Hammond said Monday that “an emerging view among businesses, among regulators and among thoughtful politicians” necessitated a transitional deal after Brexit.

A slower process “would tend towards a smoother transition and would run less risks of disruption, including – crucially – risks to financial stability, which must be a very real concern,” he noted.’

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