What is Next for Brexit?

With the U.K Parliament now shuttered for five weeks and the recent political turmoil throwing up more questions than answers, analysts have been busy contemplating what could happen next in Britain as it approaches its Brexit deadline.

The shutdown of Parliament — known as prorogation — will see lawmakers reconvene on October 14. The suspension marks the end of one parliamentary session before the start of the next, and it’s usual for it to take place at this time of year.



However, the current shutdown, which began in the early hours of Tuesday, is more controversial than most due to its extended length and because it comes at a period of high anxiety in U.K. politics over the direction of Brexit.

It’s fair to say the U.K.’s political establishment has been in tumult since the divisive 2016 referendum on EU membership. It has culminated in Parliament’s three-time rejection of the existing Brexit deal on offer, but also the dismissal of a no-deal Brexit.

This summer, Parliament saw the arrival of a new prime minister in July determined for the U.K. to leave the EU on October 31 “come what may.”

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