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Brexit: Prime Minister of Great Britain does not want to change the date
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Brexit: Prime Minister of Great Britain does not want to change the date

created Michał SielskiSEPTEMBER 7, 2019

Everything indicates that the United Kingdom will leave the European community at the end of October. The British Prime Minister, Boris Johnson, on Sunday once again emphasized that the EU and the British are facing the last chance for an agreement. If it is not achieved, the worst scenario will come true - Great Britain will leave the EU without a deal.

Boris Johnson spoke about his last chance for an agreement on Sunday during a telephone conversation with French President Emmanuel Macron. The content of the conversation revealed the office of the Prime Minister of Great Britain. The head of government emphasized that the European Union should not delude itself that among its members after 31.10.2019 there will still be British. Earlier, Portuguese Prime Minister Antonio Costa heard the same thing. Everything seems to indicate that there will be no further delay in leaving the EU. However, the British hope for an agreement that will protect them from so-called hard Brexitem.

British: The European Union must also want a compromise

“This is an opportunity to reach an agreement, an agreement supported by parliamentarians and taking into account the compromises of all parties. The UK has come out with a big, important offer, but the time has come for the Commission (EU) to be willing to compromise as well. If this does not happen, Great Britain will leave the EU without an agreement " - stated the representative of the British government, quoted by the Reuters agency.

At the end of this week, we are to get to know specific proposals and find out if there is any chance for any negotiations. So far, talks have been very slow. By October 19 this year, an agreement should be concluded, and if this does not happen, the bill obliges Prime Minister Johnson to apply for extension of the date of leaving the EU. The Prime Minister, however, emphasizes that he will not file a delay request. Is he so sure if he intends to break the bill? He has not explained it yet, but if it is an element of negotiation, it must be admitted that it is very reckless.

Changes for traders after "Hard" Brexicie

Experts are convinced that after "Hard" Brexit will face much greater problems than the "problem of the year 2000", which is still remembered by many.that was supposed to crash many computer systems. The Vedas only ended in fear, now there can be much more real turmoil.

What problems can arise for traders? It may be necessary to close forward contracts that will be opened in the European Union, but they will have to be settled in a country that will be outside the community. Problems will arise with access to exchanges, exchange of information or even the use of British brokerage houses.

More about we wrote about the consequences of Brexit for traders here.

Brexit without a contract is a problem for residents

The British - and not only - in everyday life on the island can be much more confused. In the document that was prepared for the government, we can read that leaving the European community will cause big problems for the economy, which will noticeably slow down. There will be problems with access not only to certain products (e.g. food), but also medicines. There will be problems on the labor market, GDP will fall and it may even start an economic slowdown, but even a crisis.

Until recently, everything seemed to indicate that the British government would do everything to prevent this, but now nobody is so sure. The British negotiate very hard and even European leaders who are against Brexit end their patience. And this makes negotiations difficult, which has already stalled for several weeks. If this week is not finalized successfully, we can expect interesting times in the currency markets and nerve movements of stock indices.

Meanwhile, the pound reacts quite moderately to recent reports. Quotations after the weekend opened a small gap with disadvantage for the pound, but the GBP / USD exchange rate is stable and loses almost -0,3% on today's session.

gbpusd

Chart GBP / USD, M30 interval. Source: xNUMX XTB xStation

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About the Author
Michał Sielski
Professional journalist for over 20 years. He worked, among others, in Gazeta Wyborcza, recently associated with the largest regional portal - Trojmiasto.pl. He has been present on the financial market for 18 years, he started on the Warsaw Stock Exchange when the shares of PKN Orlen and TP SA were just being introduced to the market. Recently, his investment focus has been exclusively on the Forex market. Privately, he is a parachutist, a lover of Polish mountains and a Polish karate champion.
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