*  *  *  How will Brexit affect the Spanish and EU banking sectors? The good news is: there have been no funding, liquidity or operational problems in SSM banks since the referendum. Operationally, financial markets have been functioning well.
There is of course the risk that a prolonged period of uncertainty about the future relationship of the UK with the EU creates a wait-and-see mood, including increased risk aversion of investors and markets. With all due respect to the political process, it would be good to settle the situation in due course; in fact this is very important.