German Minister of Finance Olaf Scholz (L) and Dutch Finance Minister Wopke Hoekstra give a press conference during their meeting at the Ministry of Finance in the Hague on June 4, 2018. / AFP / ANP / Jerry Lampen
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German Finance Minister Olaf Scholz said on Friday that businesses readying for Brexit should prepare for a worst-case scenario even though there was "no guarantee" of a final deal being reached between Britain and European Union.A tentative deal to manage Britain's transition out of the common market had been reached in March, but this still hinges on a final overall agreement being reached with the EU, Scholz warned.Scholz backed EU proposals that could require some financial businesses to move out of London if financial stability was put at risk, particularly in the case of euro-denominated clearing.
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