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.
USD/CAD – Canadian Dollar Steady Ahead of Manufacturing Reports
GBP/USD – Pound Dips as Manufacturing PMI Misses Expectations
USD/JPY – Japanese Yen Shrugs Mixed Tankan Indices
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.