Peter discusses the leadership contest consuming the Conservative Party in the U.K, and where Brexit will influence the selection of the future Prime Minister, who is likely to be from a camp that is much more enthusiastic about the UK withdrawal. Peter categorizes the candidates into “dealers” and “no-dealers” and how there may be a different appetite among MPs and the Party membership for a harder Brexit. Peter also discusses just how a No-Deal Brexit may occur when Parliament itself has stated its opposition to such a step, and how markets would be “spooked” by any move towards prorogation.
Lastly, Peter and Bloomberg talk about the impact on euro/sterling of a Brexit on WTO terms and possible return to a hard border on the island of Ireland.