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Germany Keen to Give Nothing Away Until Article 50 is Triggered

German Chancellor Angela Merkel’s government is battening down the hatches for the coming Brexit talks, instructing officials to avoid any back-door contacts that could hand the U.K. an advantage.

Merkel’s chancellery is receiving U.K. diplomats but politely refusing to grant the U.K. any favors in advance of the official negotiations, according to two people familiar with the matter. Officials at some ministries have been instructed to shun official contacts with U.K. counterparts that could reveal negotiating positions, another person said.

The German message in private is the same as in public: that discussions can’t start until Britain presents its opening gambit after triggering Article 50 of the Lisbon Treaty, the three people said. All asked not to be identified discussing private government matters.

Bloomberg [1]

Investors Buoyed by Debate, Attention Now on ECB [2]

Market Focus on Commodity Currencies [3]

Cash Levels Highest Since 2001 [4]

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Craig Erlam

Craig Erlam [8]

Senior Market Analyst, UK & EMEA at OANDA [9]
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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