The Monetary Affairs Committee through the EAC Secretariat engaged the services of the European Central Bank in 2009 to carry out the study through an internationally competitive bidding process.
Let me focus in on the monetary policy and financial trilemmas. In relation to monetary policy, Brexit does not alter the status quo, which no commitment on either side to stabilise the value of Sterling against the euro and the Bank of England and the European Central Bank each pursuing an independent monetary policy.