In this session from the 72nd CFA Institute Annual Conference, a former member of the European Central Bank's Executive Board discusses how Brexit instability is affecting the European economic outlook and what policy shifts should be expected from the EU in response. Lorenzo Bini Smaghi also discusses how the United Kingdom can maintain economic stability while in flux, whether the European Central Bank has sufficient tools to manage Brexit instability, and the future prospects for negative interest rates. He also makes recommendations for policymakers addressing excessive EU debt burdens and imbalances between the eurozone core and periphery.