EU Is Pessimistic That a Brexit Breakthrough Is in Reach

EU Is Pessimistic That a Brexit Breakthrough Is in Reach

EU Is Pessimistic That a Brexit Breakthrough Is in Reach

What a mess.

Article is wrong when they say no deal is off the table. While Parliament has a vote on no deal, voting against no deal isn’t sufficient to make it happen. There needs to be an alternative should May’s deal be voted down.

At a minimum Article 50 needs to be extended which requires EU approval. EU won’t likely approve a short extension with no clear end game (eg close to a deal or likely second referendum.

A second referendum would be appealing to the EU but requires an extension much longer than 3 months. Not at all clear MPs will vote for long extension nor whether the PM will allow it.

While no deal probability has certainty been reduced, it is far from “off the table”.

FX traders too complacent?

https://www.bloomberg.com/news/articles/2019-03-06/eu-said-to-be-pessimistic-that-brexit-breakthrough-in-reach

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