Professor Philip Lane:

My sense is that the whole European system of regulators and lawmakers can do a lot to manage those kinds of risks, but the major focus will not be so much on that as on the financial market speculation. We are probably going to see swings in the exchange rate between sterling and the euro, and possibly swings in UK interest rates, and changes in equity markets, among other changes. If the probability of a hard Brexit goes up in the coming weeks, the financial volatility could in itself be damaging, even if the situation ends up being okay at the end of March. Unless there is very rapid and very clear progress between now and the end of November, we will witness volatility until the final answer is there.