Market Commentary

Brexit

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After Britain’s failure yesterday to pass an EU negotiated plan to exit the EU the British government has no plan to pursue. So what will happen?

Most likely one of three things; Britain goes back to renegotiate a new deal, but that seems fruitless with the government Theresa May has back home. Secondly, the UK could vote for a new government and try to make another deal with the EU. The third option is that they break away with no deal. In that case it will be a mess and scramble to try and forestall economic chaos.

The EU could take a hard stand as well and boot the UK out. There is only about 8 weeks left before the deadline hit. Of course the EU could postpone the deadline. That is likely if they see progress.

No one in Europe, including England, wants the economic chaos with a break and no agreement. Therefore, a deal is likely to be made, but as always it seems in crisis, it will be done in the last minute.

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