Brexit – The breakfast of commentators – never stops throwing up new twists and turns.
As we’ve discussed here and here, the proposed “Withdrawl agreement” is unworkable and either PM May pulls it in an attempt to survive, or it is voted down.
We’re reminded of that urban myth – the one that tells the story of a US warship bellowing over the radio that another vessel had better get out of the way or else, only to be told “this is a lighthouse – your call”.
That fact dawned on the Govenrment over the weekend and PM May seems to have discussed pulling the vote with EU Tusk on Sunday, and pulled it this morning.
Withdrawl of the withdrawal – how drawl
So where does that leave us now? Well with several key parliamentary niceties in the way before we can proceed, there are few options left.
Indeed, we continue to see only one – the second referendum.
There have been whispers that the EU have agreed to a six week delay to AR50 endpoint in April, allowing time for a referendum,
which would take us into….. yep… May!
And of course, in the spirit of the “fifty second state” we find modern democracy in, what bet would you give me that the second referendum turns out 52:48 in favor of remaining ?
Finally, as we wrote yesterday eventually markets will see this turn in the Brexit fiasco as positive for markets. One can already see the weak pound being supportive for uk stocks, which can infiltrate global stocks quickly.
But the reality that removing this Damocles of Brexit from the market‘s long list of worrys is a positive benefit.
May you live in interesting times, especially in May (unless your name is May).
2 Replies to “Brexit – Withdrawal symptoms”
They shoudl have the election and the referendum at the same time
Great chart today
Did you see the euro stoxx 600 banks chart doing the rounds? Europe, including the UK, will be a public finance market very soon!
hey drew – yes, I saw the chart, though I suspect they are rapped up in the same thing for many, so not representative.
A better chart would be those sick of Brexit
or those sick of UK politicians.
and no I missed the chart – send it to me please – before there is only one left!…