Overall, there was something for everyone in the latest deal. The backstop was binned, there will be no hard border on the Island of Ireland and the UK will be free to follow its own independent trade policy. There was some surprise that the UK Prime Minister was able to secure a deal so quickly. While the EU made some concessions, the movement in negotiations was primarily due to Boris Johnson removing some of the UK government’s red lines.
prime minister
Chief Economist’s Weekly Brief – All change please, all change!
The election of Boris Johnson as the new Tory leader and Prime Minister saw a sharp pivot towards a pro-Brexit cabinet. Mr Johnson also teased with a slightly more cavalier attitude towards the fiscal purse. Meanwhile, a dovish speech from ECB president Draghi clearly signalled further easing measures soon, probably in September.
Weekly Brief – May’s Brexit deal hangs by a thread
Following the recent Grieve amendment, the chances of Parliament passing PM Theresa May’s Withdrawal Agreement tomorrow look very slim. A rejection would force Mrs May to unveil a Plan B next Monday. An array of outcomes is possible with an increasing chance of Article 50 being extended.
Chinese bonanza drives west wild
At this time of year, we tend to pause and take stock of where we are economically. And when it comes to 2018, it would be tempting to view things through the prism of Western movies.
