No, Commons Vote on EU Trade Deal Does Not Threaten Brexit

ft

A strange FT splash this morning claims that MPs getting a vote on the government’s eventual EU trade deal means a real Brexit is less likely. This is just wrong. MPs will be given a choice between the government’s deal or no deal which would mean trading with the EU under WTO rules. Either way, it will be a ‘hard Brexit’ by the FT/Remoaner definition, which is Brexit. As for the pound rising on the back of this? Almost as if traders don’t have any particular political insight, the rises and falls in the pound are just them trying to make money off the back of newsflow rather than fundamentals…




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Quote of the Day

Philip Hammond uses a trip to Berlin to mock the Foreign Secretary:

“A compromise is the art of dividing a cake in such a way that everyone believes he has the biggest piece. Wise words with some applicability to the Brexit negotiations although I try to discourage talk of “cake” amongst my colleagues.”

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