May Must Prove That No Deal is Better Than Bad Deal

British Prime Minister Theresa May must prove that “no deal is better than a bad deal” by offering an economic assessment on the impact of leaving the European Union with no agreement, a parliamentary committee said on Tuesday.

Just days after May triggered the formal divorce procedure with the European Union, the committee, made up of lawmakers from the prime minister’s Conservatives and other parties, also called on the government to publish its contingency planning for failing to strike a deal after two years of talks.

May enters the unprecedented talks with an ambitious game plan, wanting “frictionless” trade and good cooperation with the bloc while gaining control over immigration and returning sovereignty — a wish list EU officials have balked at.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.