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Investment Week (July 17)

2019/ 07/ 19 by jd in Global News

“A ‘no deal’ Brexit could result in sterling falling to parity with the dollar,” according to Morgan Stanley. “Exiting the European Union without a deal looks increasingly likely.” In a “worst-case scenario” the pound, currently at $1.24, could plunge roughly 19% “to historic lows of $1-$1.10.”

 

Wall Street Journal (July 11)

2019/ 07/ 13 by jd in Global News

“The bitterness of Brexit pervades all aspects of British life and politics. It has divided friends and families, produced a Conservative cabinet with more leaks than an old sieve, split the diplomats of the U.S. and the U.K., and exposed a rift between Britain’s elected politicians and its unelected civil servants.”

 

The Irish Times (July 10)

2019/ 07/ 12 by jd in Global News

“The Brexit planning document published by the Government on Tuesday is reminiscent of the warnings about the Irish economy and housing market that proliferated in the first phase of the economic crash a decade ago. It is one of the most alarming documents ever published by an Irish government…. Written in low-key officialise, it is a sobering read.”

 

The Guardian (July 9)

2019/ 07/ 11 by jd in Global News

“The pound has come under fresh selling pressure amid rising fears over the strength of the British economy as no-deal Brexit looms,” tumbling to its lowest sustained level in over two years. “The latest sell-off comes at a time of a stalling UK economy, as the boost from stockpiling before the original Brexit deadline begins to fade” and fears grow that “the economy probably contracted in the three months to June, raising fears of a technical recession.”

 

The Economist (June 29)

2019/ 07/ 01 by jd in Global News

The “metropolis of money, known as the City, generates £120bn ($152bn) of output a year—as much as Germany’s car industry.” Increasingly, Brexit appears to threaten an outcome that “would make the eu poorer and damage London’s position.” In addition, the end result could “change the workings of the global financial system.”

 

Reuters (June 28)

2019/ 06/ 30 by jd in Global News

“British consumers have turned gloomier about the economy and the outlook for their personal finances,” according to a consumer-sentiment survey. “The GfK consumer sentiment index—which has been negative since shortly before the June 2016 Brexit referendum—fell to -13 in June from May’s seven-month high of -10.” This is just one of the signs pointing to “a lacklustre second quarter for the economy.”

 

Financial Times (June 25)

2019/ 06/ 27 by jd in Global News

“The latest Brexit fantasy is the most absurd of all. Article 24 of the WTO’s underlying treaty is not a solution to no-deal.” If Boris Johnson wins the election, “he needs to have a plan ready to deal with the disappointment of his followers when it turns out they were sold policies under false pretences. A unilateral invocation of part of Article 24 is not a way out of the UK’s Brexit predicament. If Mr Johnson and his followers do not know that, they soon will.”

 

Financial Times (June 20)

2019/ 06/ 22 by jd in Global News

“Which tribe of politicians can claim to be the party of business? Back in the tax-cutting, deregulating, privatizing days of Ronald Reagan and Margaret Thatcher, the question was simple to answer on each side of the Atlantic. But Donald Trump and Brexit have a way of scrambling well-worn assumptions.” Neither the Republican Party or, across the pond, the Conservative Party remain the clear home of business.

 

Foreign Policy (June 13)

2019/ 06/ 15 by jd in Global News

The Tory party has “bravely put party before country” and their “internal fights” have virtually “wrecked the U.K.” Any achievements the conservative “government might claim—record numbers of people in work, a ‘balancing of the books’—have been completely overshadowed by Brexit, a farce produced as a direct result of internal Tory squabbling and dissension.”

 

Financial Times (May 5)

2019/ 05/ 06 by jd in Global News

Brexit has “exposed the internal divisions within the established political parties and unearthed a diversity of views that is struggling to be contained inside two organisations. A more diverse political landscape would, arguably, be more representative of modern Britain. But making this transition will not be a quick process. Any break-up of the old political order is likely to be long, slow and painful.”

 

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