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Recital 4

Recital 4

(4)However, the reasons underlying Implementing Decision (EU) 2018/2031 remain. In particular, potential risks persist in relation to the financial stability of the Union and its Member States in case of a withdrawal without an agreement and are likely to persist after 30 March 2020. Moreover, clearing members and clients established in the Union need legal certainty and predictability for a sufficient period of time following a potential withdrawal of the United Kingdom from the Union without an agreement. However, also the reasons for the limited duration of that Decision persist, in particular as regards the uncertainties surrounding the future relationship between the United Kingdom and the Union, as well as the potential impact on the financial stability of the Union and its Member States and on the integrity of the Single Market. Implementing Decision (EU) 2018/2031 should therefore remain of a limited duration.

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