Brexit Has Euro Outsiders Fearing Banking Fallout, Denmark Says

Britain’s decision to leave the European Union will weaken the ability of the remaining non-euro members to shape financial regulation, according to Denmark’s bank watchdog.

“We’ve lost a heavyweight in our camp,” said Jesper Berg, director general of the Financial Supervisory Authority in Copenhagen. “They’ve always provided intellectual leadership, and they have close contact with a huge financial market, which helps them provide that leadership. That will be something that we’ll miss.”