Draghi’s ECB ‘ready for all contingencies’ after Brexit referendum

Central banks, including the European Central Bank, the Federal Reserve and the Bank of English, were planning contingency measures for any adverse reactions to the results of the EU referendum due to be held in the United Kingdom on the 23 June 2016.

The European Central Bank was ready for all contingencies following the UK’s EU referendum, said ECB President Mario Draghi in his regular monetary dialogue with the Economic and Monetary Affairs Committee of the European Parliament on the 21 June 2016. Mr Draghi declined to speculate on a possible outcome of the vote, but admitted that 'it is difficult to foresee the various dimensions of the vote on the markets and the euro area economies'.

• Primary Source

ESO: Information Guide: Cameron begins final push to avoid Brexit as campaigning resumes http://www.europeansources.info/record/cameron-begins-final-push-to-avoid-brexit-as-campaigning-resumes/

The Guardian, 21.06.16: Mario Draghi and Janet Yellen poised for EU referendum fallout https://www.theguardian.com/business/2016/jun/21/mario-draghi-janet-yellen-poised-eu-referendum-fallout

European Parliament: Press Release, 21.06.16: ECB ready for contingencies following UK referendum, Mario Draghi tells MEPs http://www.europarl.europa.eu/news/en/news-room/20160621IPR33007/

ESO: In Focus: Brexit - The United Kingdom and the European Union http://www.europeansources.info/record/brexit-the-united-kingdom-and-the-european-union/

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