ECB's Villeroy: Markets have not entirely grasped the possibility of a hard Brexit

Additional comments from European Central Bank (ECB) Governing Council member Villeroy crossed the wires in the last minutes as he continues to talk about the potential negative impact of a hard Brexit on the European economy.

Key quotes (via Reuters)

• Financial markets have not entirely grasped the possibility of a hard Brexit, turbulence ahead is possible.

Earlier in the day, Villeroy noted that they have made all the preparations necessary for a no-deal Brexit scenario.