UK warns: EU risks financial crisis if it blocks Brexit deal - BBG

In a joint article for Frankfurter Allgemeine, Chancellor of the Exchequer Philip Hammond and Brexit Secretary David Davis, two senior UK ministers, warned that the European Union (EU) risks opening the door to another global financial crisis if it blocks a good Brexit trade deal, Bloomberg reports.

The ministers wrote in a guest column for the German newspaper, this will enable both sides to continue their work ensuring “such a catastrophe” as the 2008 crash “doesn’t happen again. We must re-double our collective effort to ensure that we do not put that hard-earned financial stability at risk, by getting a deal that supports collaboration within the European banking sector, rather than forcing it to fragment.”