S&P: Prime Minister May's resignation likely to pave way to a harder Brexit stance

Eren Sengezer FXStreet

Assessing the latest political developments in the UK in a recently published report, the S&P argued that British Prime Minister There May's resignation was likely to "pave the way to a harder Brexit stance."

Key quotes (via Reuters)

May's successor to face same challenge as may to find majority support for Brexit deal in the face of a divided party and parliament.
Do not anticipate an easy end to the deadlock before the end of October.
EU is unlikely to renegotiate terms of UK's withdrawal already agreed with PM May.
Slowing UK economy to make it harder for government to meet its promises announced over past year to increase spending & end austerity while maintaining budgetary targets.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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