Hollande prefers ‘Hard Brexit’ to avoid contagion

Omkar Godbole FXStreet Contributor

Tough words from French President Francois Hollande saw Pound plunege more than 6% at Asia open.

Britain must suffer the consequences of leaving the EU in order to save the institution from an existential crisis, François Hollande said while speaking in Paris.
“The UK has decided to do a Brexit, I believe even a hard Brexit. Well, then we must go all the way through the UK’s willingness to leave the EU. We have to have this firmness”, Hollande said.

He added further, “There must be a threat, there must be a risk, and there must be a price. Otherwise we will be in a negotiation that cannot end well”.

Hollande’s warning accentuates the fears of ‘Hard Brexit’ triggered by UK PM’s decision to invoke the article 50 by March 2017.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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