Mário Centeno said this Wednesday to a journalist from Bloomberg that all Brexit scenarios were being prepared, and that there was a very small possibility that a "no-deal" Brexit would occur.
The head of Eurogroup, Mário Centeno, said on Wednesday all possible Brexit scenarios were being prepared and that there was a “very small probability” of a no-deal Brexit.
Centeno, who is also Portugal’s finance miniser, told Bloomberg in an interview at a break during the Davos World Economic Forum that a no-deal scenario had to be avoided.
“We need to avoid a no-deal scenario,” Centeno said. “It’s going to be quite negative, not only for the European Union, but especially for the UK.”
Centeno also said the slowdown in the European economy may last slightly longer than expected after a build-up of political risks including as Brexit.