‘Dealers’ and ‘No-Dealers’ on the battle line

Published June 7, 2019 | 3 min watch

Peter Schaffrik, Chief European Macro Strategist, sits down with Bloomberg to discuss U.K. politics, the possibility of a no-deal Brexit and the outlook for the pound.

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.

BrexitEconomyEuroForeign ExchangeSterlingUK