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Brexit Bulletin: After the Referendum, Brits Went on a Spending Spree

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The U.K.’s future relationship with the European Union will require a tailor-made solution, according to Germany, although Prime Minister Theresa May won’t be able to cherry-pick the economic advantages.

In an interview with Bloomberg, German Deputy Foreign Minister Michael Roth said it’s clear that Britain can’t expect access to the bloc’s common market unless it allows the free movement of workers that applies throughout the EU.

“This is a historically unique situation,” Roth said. “Britain is a major economy and has been an EU member for decades. We will surely reach a custom-fit agreement between the EU and Britain.”

Bloomberg

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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.
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