ECB pledges to support market if Britain quits EU

The European Central Bank would publicly pledge to backstop financial markets in tandem with the Bank of England should Britain vote to leave the EU, officials with knowledge of the matter told Reuters yesterday.

The preparations illustrate the heightened state of alert ahead of the June 23 referendum, which will help determine Britain’s future in trade and world affairs and also shape the EU.

The pound and euro have lost value on fears a Brexit could tip the 28-member bloc into recession.