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East Browski, vice president of the European Commission for euro zone affairs and social affairs, said Tuesday that Britain's non-agreement to withdraw from Europe would cause market chaos and possibly affect the liquidity of financial markets.
He said that the EU had taken a series of emergency measures to prevent the UK from leaving Europe without an agreement, but he acknowledged that "we cannot eliminate all possible negative economic impacts". "There will be chaos and liquidity may also be affected," East Browski said at a hearing in the European Parliament, noting that Britain's "high risk" of not agreeing to leave the EU on April 12.
The Bank of England and the European Central Bank have said they are ready to provide liquidity if there is a risk of market freeze if there is no agreement to leave Europe.
East Browski reiterated his call for banking and other financial institutions to prepare for an agreement-free exit so that, once this happens, it can adapt quickly.


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