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

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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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mdi-timer October 19 2016 @ 11:26 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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