ECB and BOE to put collective heads together
The potential of Brexit to disrupt millions of dollars of derivatives contracts and tens of millions of insurance polices is obviously a more point between the UK and the European Union.
The UK have called for a legislative solution while the EU say's let the Industry take the lead on solving it. The ECB and the BOE have now formed a working group to try and find a way forward. However, they warn that this shouldn't be seen as 'the fix' to the problem.
Ok , so the UK will hope the BOE can solve it and the EU will continue to pontificate and watch the UK struggle to find solutions. However, I cannot see the market melting down and thousands of people being left uninsured, so they will find a solution and that might very well begin to be the seeds of a 'fix' for some financial service Brexit problems
