On 20 March 2019, the Italian Government adopted transitional measures aimed at ensuring market stability and the continuity of financial operations in the case of a potential “hard-Brexit”. The provisions set out in the Decree have entered into force following their publication in the Official Gazette, and will become applicable in the event of a "no-deal" scenario.
There remains no guarantee that, from the intended Brexit day of 30 March 2019, the current tariff-free movement of goods between the two territories will not cease. Various models for future relationships are in debate, but the UK is currently ruling out the simplest (and least change) model of remaining in a customs union with the EU.
Whilst there is considerable ongoing discussion and speculation about the impact of Brexit, much of this has been about the economic and political consequences of this historic event. How do we think consumer credit lenders might be affected?
Whilst the reality of Brexit is unknown, it is crucial that the business strategy for both survival and growth is reassessed within the context of the Brexit agenda. Businesses cannot expect or wait for Government to understand all of their needs and must take a proactive stance.