October 18, 2019 / 2:37 PM / a month ago

EU finance sector prepared for hard Brexit, if deal fails - Scholz

WASHINGTON (Reuters) - German Finance Minister Olaf Scholz on Friday said he hoped the British parliament approved an agreement for Britain’s departure from the European Union, but said the EU was prepared to weather a no-deal Brexit if necessary.

Scholz said there would be no significant impact on the financial sector, but sorting out complex supply chain issues could be more difficult if Britain crashed out of the bloc without a deal.

“We are prepared for that,” Scholz told an event hosted by the Council on Foreign Relations think-tank. “In the financial sector there will be no problems,” he said.

Reporting by Andrea Shalal; Editing by Alex Richardson

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