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Reuters (August 29)

2018/ 08/ 30 by jd in Global News

“The prospect of a no-deal Brexit is becoming increasingly feasible in the eyes of investors who are hedging against the risk of the currency tanking if Britain is left isolated from the EU, its largest trading partner.” Bank of America Merrill Lynch has warned that central bank selling of more than 100 billion pounds in reserves “could be a major catalyst for a significant sterling downturn” should the UK leave the EU without a deal.

 

BBC (August 23)

2018/ 08/ 25 by jd in Global News

Brexit is “akin to attempting to remove an egg from an omelette” and if there’s not a deal, it’s likely to become an even bigger mess. “Today’s “no deal” papers reveal the complicated exercise could carry significant costs for consumers and businesses if Britain and the EU fail to agree on a transition period and a subsequent trading agreement.” Failure to reach a deal would “very likely to have a negative impact on the economy and could mean higher prices in the shops as firms pass on the higher costs of doing business.”

 

Independent (August 20)

2018/ 08/ 21 by jd in Global News

“The end of the Greek bailout is a reminder, however, that for the EU as a whole enormous tests remain with or without Britain: both as a consequence of the economic uncertainties that continue to plague much of the continent; and as a result of the ongoing need to define the European Union’s status and purpose to the satisfaction of its members, and their own populations.”

 

Reuters (August 16)

2018/ 08/ 19 by jd in Global News

“Banks still have to work to rebuild public trust, despite years of restructuring and paying fines and compensation for misbehaviour.” A YouGov survey found that “66 percent of adults in Britain do not trust banks to work in the best interests of society.”

 

The Guardian (August 9)

2018/ 08/ 10 by jd in Global News

“The era of low interest rates will last for at least another 20 years, despite gently rising official borrowing costs in the coming years, one of the Bank of England’s leading policymakers has forecast.” Outgoing monetary policy committee (MPC) member Ian McCafferty said that “structural changes in the global economy meant UK borrowers and savers should get used to interest rates being “significantly” below the 5% average in the 10 years leading up to the financial crisis.”

 

The Guardian (July 8)

2018/ 07/ 10 by jd in Global News

“Theresa May’s fragile deal would be a disaster for Britain.” The Prime Minister secured “a fragile domestic political compromise only by confecting a solution that no one thinks the EU will accept. And even in the unlikely event that the EU were to sign on the dotted line, there is no disguising that while it may be better than dropping out with no deal, the Chequers agreement would be a terrible outcome.” Britain would no longer have a say “in shaping the rules of the world’s most successful trading bloc…in exchange for becoming a rule-taker in whatever scrappy free trade deal we can negotiate.”

 

The Economist (June 16)

2018/ 06/ 18 by jd in Global News

“The Irish border presents a near-insurmountable roadblock to a hard exit. With less than six months of negotiating time left, it is becoming clear that Brexit will be softer than Mrs May set out. That is good news for Europe and for Britain.”

 

Reuters (June 7)

2018/ 06/ 08 by jd in Global News

“Despite a torrid start to 2018 and with Brexit uncertainties looming large, British blue-chip stocks have jumped to record highs thanks to a weak pound, a torrent of mergers and acquisitions, and bouts of political anxiety in the euro zone.” This is less the result of long-term optimism and more a re-calibration that UK  positions had been marked down excessively.

 

Wall Street Journal (June 4)

2018/ 06/ 05 by jd in Global News

Despite the “unanimous concern and disappointment” expressed in a statement by G7 members Canada, France, Germany, Italy, Japan and the UK, ”the Trump administration showed no sign of backing down from restrictive tariffs” or provided any indication “that the administration was wary of inching closer to a trade war.”

 

Financial Times (May 28)

2018/ 05/ 30 by jd in Global News

France, the UK, Japan and other “mid-sized powers must unite to preserve world order.” They “must join forces as the US and China become erratic.”

 

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