• UK and EU financial regulators to examine hard Brexit impact: European Central Bank and the Bank of England will work together on how to minimise financial market turmoil in the event Brexit talks break down and UK leaves the EU without a withdrawal agreement, forfeiting its transition period and instead finding its market access suddenly reduced. It signals that both sides see threats to stability if the City of London is suddenly cut off from companies on the continent. One particular preoccupation for regulators has been the post-Brexit status of vast numbers of over-the-counter derivatives contracts involving EU and UK counterparties. (The Financial Times / Reuters)
  • Rotterdam reveals Brexit fears over port capacity: Amid renewed hope that the UK government will make a U-turn on the customs union issue following the local elections in May, officials at the port of Rotterdam are stalling on investments in Brexit infrastructure, including new customs inspection posts, parking spaces and cool warehouses for flowers and vegetables, amid. While port’s head of external affairs expressed his concerns that the necessary land would not be available around at least one of the four ferry terminals servicing the UK, he said there are even larger problems with the infrastructure in the Dover ports. (The Guardian)