Draghi: Prepare for a no-deal

The president of the European Central Bank, Mario Draghi, has told EU leaders that companies have to increase their preparations for a possible no-deal Brexit. Mr Draghi’s comments came the day after EU leaders agreed at a summit in Brussels to give Britain a final chance to leave the bloc with a deal, extending the Brexit deadline by two weeks to April 12 from March 29.

“Authorities and central banks are prepared but the private sector has to step up preparations,” Mr Draghi told the European summit.