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Brexit Phase 2: Hard Road Ahead

Brexit Phase 2: Hard Road Ahead

December 08th, 2017

The British Prime Minister, Theresa May, has finally succeeded in agreeing with the European Commission to move the Brexit talks to phase 2.

  • Sterling Up but Volatility Expected
    December 07th, 2017

    Sterling Up but Volatility Expected

    The Pound rallied against the US Dollar and the Euro, despite Theresa May and Arlene Foster's unfinished business regarding the issue of the Irish border. Michel Barnier, the chief EU negotiator, said to EU ambassadors that the British government has been given 48 hours to present a text on a potential deal. He added that the British prime minister is working on a proposal that could give a solution to the DUP's concerns.

  • Brexit: Nightmare before Christmas?
    December 06th, 2017

    Brexit: Nightmare before Christmas?

    David Davis gave evidence to the Brexit select committee, and explained that no impact assessments on leaving the EU have been completed by any government officials.

  • Sterling Slips on Concerns Over Brexit Impact
    December 06th, 2017

    Sterling Slips on Concerns Over Brexit Impact

    The Pound continues to suffer losses against most major currencies as the world awaits Theresa May and Arlene Foster's meeting to discuss ways to solve the Irish border problem. According to media reports, DUP officials believe that a conversation between the prime minister and their party's leader wouldn't make any difference, unless major changes were made to the proposed deal with the European Union.

  • DUP: Irish Government is Acting Aggressively
    December 05th, 2017

    DUP: Irish Government is Acting Aggressively

    Nigel Dodds, the DUP leader at Westminster, accused the Irish government of behaving in an “aggressive and anti-unionist way” during the Brexit negotiations.

  • Pound Down after DUP Backlash
    December 05th, 2017

    Pound Down after DUP Backlash

    The Pound slumped against most major currencies in the aftermath of Theresa May's failure to strike a deal with Jean-Claude Juncker, during yesterday's evening meeting. The British prime minister faced opposition from the Democratic Unionist Party (DUP), regarding the Irish border problem. May will meet with the DUP leader, Arlene Foster, in order to find a way to save the deal. Brussels seems to have become a second home for May, as one of the government's officials said that she could be back in the capital of Belgium as early as tomorrow.

  • No Deal, Despite UK’s Compromise on Irish Border
    December 04th, 2017

    No Deal, Despite UK’s Compromise on Irish Border

    The British government has agreed to the Republic of Ireland’s terms that there won’t be a hard border between the Republic and Northern Ireland.

  • Markets Await May’s Brexit Offer
    December 04th, 2017

    Markets Await May’s Brexit Offer

    The day of reckoning has arrived for the British prime minister. This evening, Theresa May will be meeting with the President of the European Commission, Jean-Claude Juncker, in Brussels, where she is expected to make a renewed offer on the financial settlement of Brexit. The Brexit bill, together with the two issues of the Irish border and citizens' rights remain on the agenda of today's meeting. Media reported that over the weekend negotiations between the UK and Ireland regarding the Irish border fell apart.

  • Next Brexit Issue: Irish Border Challenge
    December 01st, 2017

    Next Brexit Issue: Irish Border Challenge

    The issue of the Irish border poses a challenge that the UK and Northern Ireland must resolve before the next stage of negotiations.

  • Sterling Slows Despite UK Manufacturing Surge
    December 01st, 2017

    Sterling Slows Despite UK Manufacturing Surge

    The Pound fell against both the US Dollar and the Euro, despite the fact that the UK's manufacturing sector in November recorded a strong expansion. IHS Markit published the UK's manufacturing PMI which came in at 58.2, beating all expectations. Theresa May is facing pressure by the Democratic Unionist Party (DUP), whose officials threatened to reconsider their party's stance in the government, if the prime minister compromises over the Irish border in the negotiations with the European Union.

  • Theresa May Trumps the Donald
    November 30th, 2017

    Theresa May Trumps the Donald

    Once, this Anglo-American couple held hands, but since yesterday, things have become a bit complicated. Of course, we are not talking about the hottest new couple on the block, Prince Harry and Meghan, but about UK PM Theresa May and US president Donald Trump.

  • Pound Continues to Strengthen for a Second Day
    November 30th, 2017

    Pound Continues to Strengthen for a Second Day

    The Pound continued today to strengthen against the US Dollar and the Euro, boosted by yesterday's reports of a breakthrough on the issue of the Brexit bill. The financial settlement would hopefully help move the negotiations to the second round of trade talks after December's EU Summit, when EU leaders would decide whether sufficient progress has been made. Theresa May, who is on a trip in the Middle East to visit Jordan, Iraq and Saudi Arabia, declined to comment on President Trump's new tweet in which he urged her to focus on the UK's domestic problems with terrorism, rather than criticising his anti-Muslim tweets.

  • Brexit Bill: Pound Spikes but Politics in Tatters
    November 29th, 2017

    Brexit Bill: Pound Spikes but Politics in Tatters

    The EU and the UK did not confirm the amount of the Brexit bill they will be comfortable with, but it was widely reported today that UK ministers are willing to accept a figure around £50bn.

  • Pound Hits Two-Month High on Brexit Bill Reports
    November 29th, 2017

    Pound Hits Two-Month High on Brexit Bill Reports

    The Pound hit a nine-week high against the US Dollar and strengthened against the Euro when media reported that the British and the European Union (EU) side are very close to striking a deal over the Brexit bill. According to media sources, senior EU officials said that the UK appeared ready to honour its commitments. Donald Tusk has set the 4th December as a deadline for the UK side to present a new and final offer regarding the Brexit bill. Tusk, who is the President of the European Council (EC), told Theresa May that negotiations are not going to proceed unless there is a new offer and sufficient progress.

  • Outrage: Government Secrecy Over Brexit
    November 28th, 2017

    Outrage: Government Secrecy Over Brexit

    On Monday evening, when an 850-page dossier was given to the Brexit Select Committee, MPs were outraged after they had found that the Department for Exiting the European Union, of which David Davis is the responsible Minister, removed some material before handing it to the committee.

  • BoE’s Stress Tests Show Brexit-proof Banks
    November 28th, 2017

    BoE’s Stress Tests Show Brexit-proof Banks

    The seven biggest UK lenders succeeded in passing the Bank of England's (BoE) stress tests, proving that they are able to withstand a "disorderly" Brexit. Stress tests revealed that UK banks wouldn't be in need of being bailed-out even if a global recession reduced the British GDP by 4.7%, interest rates picked up at 4% and house prices fell by 33%. The Royal Bank of Scotland (RBS) and Barclays were the weakest banks among the participants.

  • What is New Industrial Strategy White Paper?
    November 27th, 2017

    What is New Industrial Strategy White Paper?

    The government’s new paper on “Industrial Strategy: Building a Britain fir for the future,” published today, was met with enthusiasm by business leaders but with disappointment from unions and opposition parties.

  • Brexit Bill Looms for Theresa May
    November 27th, 2017

    Brexit Bill Looms for Theresa May

    The 4th December will probably be one of the dates that Theresa May will never forget. Until the end of that day, she should make a new offer to the European Union leaders regarding the Brexit bill and the Irish border. Donald Tusk warned her that, in case a new offer isn't made, the EU side won't be able to proceed to the second round of talks after the EU Summit. Liam Fox already replied that the UK won't discuss anything regarding borders with Ireland, unless trade talks start.

  • EU Summit: Theresa May on Brexit Pilgrimage
    November 24th, 2017

    EU Summit: Theresa May on Brexit Pilgrimage

    The PM Theresa May arrived in Brussels at an EU summit today, where she will be meeting with president of the European council Donald Tusk.

  • Pound Rises as Theresa Heads to Brussels
    November 24th, 2017

    Pound Rises as Theresa Heads to Brussels

    UK consumer confidence fell sharply in November as UK shoppers were reluctant to spend money because of the sluggish wage growth and inflation's impact on household incomes. The survey by YouGov and the Centre for Economics and Business Research (CEBR) revealed that the interest rate hike also affected consumers behaviour. Mortgage approvals during October hit the lowest level since September 2016.

  • Warriors of Chaos: Brexiters Blamed By EU
    November 23rd, 2017

    Warriors of Chaos: Brexiters Blamed By EU

    Theresa May’s government has been ridiculed as chaotic and incoherent in a leaked Irish government paper.

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