UK Won’t Pay for Brexit says One MP

British trade won’t suffer punitive tariffs, the world will continue to flock to the City of London and there will be no hefty divorce settlement fee to leave the European Union, if the so-called Brexiteers’ Brexiteer is to be believed.

John Redwood, chief global strategist at investment manager Charles Stanley and a member parliament for Wokingham, told CNBC Wednesday that “a happy outcome is quite possible” as the U.K.’s negotiations for exiting the EU step up a gear.

Charles Stanley does not hold a house view on the Brexit negotiations but Redwood has made clear that he will be voting in favour a so-called Brexit Bill which is scheduled for later today and will determine Prime Minister Theresa May’s ability to begin the EU Brexit process.
Redwood told CNBC that “the worst that can happen to (the U.K.’s) trade is that we will trade with Europe as we trade with the rest of the world at the moment … with relatively light tariffs and relatively light barriers because we’ve had very good progress through the WTO in getting barriers down between advanced countries, and this is trade between advanced countries.”

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza