Michael Every, Head of Financial Markets Research at Rabobank, suggests that optimism that Brexit may never actually happen - is certain to be dented by UK PM May announcing that she is set to trigger Article 50 in March 2017, meaning EU-exit by March 2019.
Key Quotes
“May also said: “I want [the deal] to give British companies the maximum freedom to trade and operate in the single market – and let European businesses do the same here.” Yet, at the same time, she made clear there will be no compromise on immigration, and that "the UK must look beyond Europe for economic success." It is generally considered that the more May insists on immigration control, the more the EU is likely to close access to the single market meaning that the UK appears to be setting the course towards a ‘hard’ Brexit – though this is a term that PM May has tried to dismiss. The drop in the value of the pound this morning reflects investors’ concerns.”
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