Brexit
Financial firms implementing 'no-deal' plans
Luxembourg for Finance CEO Nicolas Mackel says 'no-deal' Brexit scenario would be 'wholly different ballgame'
Financial firms setting up shop in Luxembourg have already begun to implement plans for a 'no-deal' should Britain crash out of the European Union (EU) without a trade agreement, according to Luxembourg for Finance chief executive Nicolas Mackel.
UK Brexit secretary David Davis reportedly considered suing the European Commission for advising companies to prepare for a no-deal, according to a leaked letter to prime minister Theresa May, despite the British government itself setting aside £3 billion (€3.4 billion) for such a scenario.
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