Conservatives Could Block No Brexit Deal Scenario

Lawmakers in Prime Minister Theresa May’s Conservative party believe they can stop Britain leaving the European Union without a deal if such a situation should arise, news media reported on Tuesday.

The economic impact of a “cliff-edge” Brexit, alongside the failure of the Conservatives to win a majority in the general election, should lead to a rethink of the position that “no deal is better than a bad deal”, Sky News reported, citing at least 30 Conservative lawmakers.

Sky quoted a former minister saying “no deal is now dead”, and anticipating a transition phase of five to 10 years inside the European Economic Area.

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.