Banks told to prepare for ‘no deal’ Brexit

Theresa May and Nigel Farage

SKYNEWSBrexit news Nigel Farage warned of a Government sellout as he branded Juncker a'loser

On Saturday, however, tens of thousands of anti-Brexit protesters marched in London to demand a new referendum on leaving the European Union as Britain marked the second anniversary of its 2016 vote to quit the bloc.

The Bank, which was not commenting on the EBA statement today, made clear at the end of March that "it would be difficult", ahead of Brexit, "for all financial institutions to have completed all of the necessary steps required to mitigate the risks to the provision of financial services in the European Union and the UK".

Marking the second anniversary of the Brexit vote, an estimated 50,000 protesters, including politicians and lawmakers, joined the People's Vote march to the Parliament Square in London on Saturday, in the hope of stopping Brexit.

The crowd numbered in the tens of thousands, with organizers estimating 100,000 people took part.

In an interview with ITV, Nigel Farage, has spoken about these development and said that: "Brexit done properly will make this country richer".

The People's Vote campaign, which organized the march, argues that public opinion is turning against Brexit as the economic costs become clearer.

Matthew Mann, originally from south Gloucestershire, who moved to the Netherlands in 2016 for work, said: "I'm here to show what a European looks like".

Under these circumstances, EBA chair Andrea Enria said: "Firms cannot take for granted that they continue to operate as at present nor can they rely on as yet unrealised political agreements or public policy interventions".

Harley-Davidson shifts some production overseas as European Union tariffs kick in
The company expects the incremental cost for the rest of 2018 to be $30 million to $45 million. The company said it will raise investment in its global plants, but did not say which ones.

"I have lived and worked across Europe - it's home", he said. Brexit is not inevitable.

Sixty former cabinet ministers, MPs, economists and business figures signed a letter to the Prime Minister urging her to issue orders to departments to accelerate planning for Britain to operate under World Trade Organisation (WTO) rules if a deal can not be done. "Brexit can be stopped", Liberal Democrat leader Vince Cable told the crowd.

The UK is yet to define exactly what it wants in its future relationship with the EU.

Plane-maker Airbus has warned it might pull out of the United Kingdom, where it employs about 14,000 people, if no trade deal is made with the EU.

Johnson meanwhile indicated he meant to pursue a hard Brexit, saying people would not tolerate a "bog roll Brexit" that was "soft, yielding and seemingly infinitely long". A paper setting out the U.K. government position on future relations, due to be published this month, has been delayed until July because the Cabinet can not agree on a united stance.

On Friday, Airbus said that if Britain were to leave the European Union without a deal it would be forced to reconsider its long-term position and put United Kingdom jobs at risk.

The two sides have in principle agreed a standstill transition deal running from the formal Brexit date next March to the end of 2020.

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