Conservatives Could Block No Brexit Deal Scenario

June 21, 2017 Share Print 0

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

Senior Market Analyst, UK & EMEA at OANDA

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.