FRANKFURT (Reuters) - Everyone needs to make plans for a hard Brexit just in case, German Deputy Finance Minister Joerg Kukies said on Monday.

“(It’s) very, very clear that everyone must prepare for eventuality of a hard Brexit,” Kukies - who focuses on financial market policy and European issues - told a banking conference in Frankfurt.

A hard Brexit is generally understood to be an abrupt exit by Britain from the European Union without measures in place to safeguard the British and European Union economies.