FEARS of a financial catastrophe in Europe if Britain votes to leave the union, has prompted the bloc’s top policymakers to plot an emergency Brexit plan of action.
A vote to Leave on June 23 could immediately plunge Europe’s stock markets into meltdown amid fears the union is heading for collapse.
In a bid to stop the chaos, the European Central Bank (ECB) has now decided it would publicly pledge to do “whatever it takes” to prop up markets if and when a Brexit is announced, according to reports.
On June 24, the ECB would also announce Europe’s banks would in effect be given unlimited funding, to ease fears they could cave in, if a Brexit were revealed.
The measures are similar to those made during the financial crisis and after the 9/11 attacks.
It’s hoped the promises would ease investor nerves and help calm a sell-off.
Full article: Europe’s banks to be promised UNIMITED FUNDING to stem economic meltdown sparked by Brexit (Express)