Boris Johnson tells UK: prepare for a no-deal Brexit
Boris Johnson has told Britons to prepare for a no-deal Brexit unless the EU makes a fundamental change in its approach to the deadlocked trade and security talks. In a televised statement, the prime minister stopped short of walking away from the talks, despite his self-imposed deadline for a deal having passed on Thursday. Read the full article via the Guardian.
Businesses fear ‘dual impact’ of coronavirus and no-deal departure from EU
Since the beginning of the outbreak, there has been speculation that Brexiteers will be spared immediate blame for any disruption when the UK transitions to its new relationship with the EU at the end of 2020, because its impact will be masked by the massive social and economic damage of coronavirus.
But some 54 per cent out of almost 1,000 company directors taking part in a survey said that Covid-19 will actually compound the pain of a no-deal Brexit, while just 9 percent said that the effects of leaving the EU without a trade deal would be mitigated by the pandemic. Read the full article via the Independent.
Boris isn’t bluffing about a no-deal Brexit
The EU’s position in all of this continues to be misunderstood by many in Britain. While the EU would clearly prefer to have a deal with a post-Brexit Britain, there are clear red lines they have never been willing to cross. Given that Boris has always made it clear that he intends to cross those red lines, it seems only logical that no deal is the likely end result. Read the full article via The Spectator.
How a Brexit deal, or no deal, will affect markets
The midnight hour for Brexit negotiations is fast approaching. The outcome will be far-reaching for markets, and not just for sterling and UK assets. The UK wants to maintain access to the single market but, in a bid to regain “sovereignty”, it does not wish to adhere to EU regulations. In this context it seems impossible to see a deal being reached. Read the full article by the chief market strategist for Europe, Middle East and Africa at JPMorgan Asset Management via the Financial Times.
A looming no-deal Brexit may disastrously shut down the flow of data between the EU and the UK
The UK has quit the EU and may deviate from its strict data privacy laws if the two can’t agree a trade deal before the post-Brexit transition period ends, he writes. Cillian Kieran is the CEO and founder of data privacy company Ethyca. Read his article via Business Insider.