UK CBI President to endorse May's Brexit deal

Omkar Godbole FXStreet Contributor

John Allan, president of Britain’s most powerful employers’ body, the CBI, will use a speech on Monday at the CBI’s annual conference in London to say that Prime Minister May's Brexit deal avoids the wrecking ball that would be a no-deal departure, according to The Guardian.

Key quotes (Allan is expected to say)

We’re trying to reach a deal that respects the result of the referendum and minimizes damage to our economy. I know how hard it’s been to get to this point. In the five months, I’ve been president of the CBI, the team and I have met ambassadors, MPs, MEPs, heads of state.

And I know this: every single one of them has had to compromise in reaching that deal. While companies in this room would be the first to say that it is not perfect, it does open a route to a long-term trade arrangement and unlocks transition – the very least that companies need to prepare for Brexit. And most importantly, it avoids the wrecking ball that would be a no-deal departure.

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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