Mario Draghi said the European Central Bank has no choice but to brace for the possibility that the U.K. will exit the European Union without a transitional agreement.
“We always prepare for any eventuality but at the same time we are assessing the direction, probability and potential impact of risk,” Draghi told members of the European Parliament in Strasbourg Monday. “The bottom line is this one -- either the negotiation is well managed and there won’t be substantial risk, or it is not and then the risks will be there, so we’re certainly looking at that and we’ve got to be prepared.”