- Nineteen prisoners use cutlery to break out of cells at Winchester prison
- France wants progress in Ukraine before Russia returns to G7
- Italy president begins talks to seek way out of government crisis
- Italian PM expected to resign as political chaos deepens
- Russia says US cruise missile test ‘regrettable’
- Kremlin - No date set for Normandy talks on Ukraine despite Macron meeting
- Egypt court hands out 6 death sentences on terror charges
- Putin says Russian nuclear explosion poses no threat
- Russian panel eyes alleged foreign interference in protests
- Gran Canaria wildfire triggers evacuation of thousands of people
- PM Johnson calls on Germany and France to compromise on Brexit
- Sudan's ex-president Bashir arrives at corruption trial
TEHRAN, Mar 05 - The central banks of the eurozone and Britain have agreed to activate a currency swap mechanism that would ensure British banks continue to have the access they need to euros, even during any market turmoil related to Brexit.
TEHRAN, Young Journalists Club (YJC) - The move seems to be an attempt to shore up the stability of British banks in the case of a "no-deal" Brexit, a scenario in which Britain could fall out of the European Union without a deal on trade relations. That could stress the financial system, and providing liquidity would be one way for the central banks to keep the financial sector going.
The European Central Bank said Tuesday it is working closely with the Bank of England to monitor conditions in financial markets and stands ready to act as needed.
Source: AP
Your Comment