March 21, 2019 / 12:13 PM / 3 months ago

Bundesbank sees no credit crunch after Brexit: Wuermeling

FRANKFURT (Reuters) - Germany’s central bank expects no credit crunch when Britain leaves the European Union and is well prepared to keep risks to financial stability in check, its chief bank supervisor said on Thursday.

“There won’t be a shortage of financial services or a credit crunch...on the continent after Brexit,” Joachim Wuermeling said at a briefing.

“Thanks to the great efforts of everyone involved I can say we are well prepared and have risks for financial stability under control,” the Bundesbank board member added.

Reporting By Francesco Canepa; Editing by Raissa Kasolowsky

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