• WARNING: Brexit could be cancelled!

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    Remembrance Sunday this year falls on the 11th November and thus we will have one 2 minute silence and not two. It will also be the centenary of the 1918 Armistice.

    On Friday 19th October 2018 the EU 27 will meet as the European Council minus one. Unless things come to a head at the European Council meeting held on the 28th – 29th June 2018 things will presumably come to a head on that Friday.

    This is because the EU had set aside a six month period between the finalisation of the Article 50 negotiations and Brexit Day (Friday 29th March 2019) to ensure sufficient time for all member states to ratify the agreements.

    It seems incredible to state this today, but these negotiations have yet to properly get under way!

    It is difficult to overstate the seriousness of the consequences of a Hard Brexit. Doctor Richard North goes into detail again and his post today makes even more sombre reading!
    GOTO: http://eureferendum.com/blogview.aspx?blogno=86903
    Herewith a scenario: After the failure of the October 2018 European Council meeting to have something to ratify, a “No Deal Brexit” appears probable. The effect of this on the London stock market and the currency markets will be severe. Markets you see work on future time. That is to say if a stock is thought to do well in the near future it’s price will rise in anticipation. The reverse is also the case. Consequentially, if the UK economy is expected to fall off a cliff with all the dire consequences the value of UK stocks and the £ will plummet ahead of and in anticipation of this. A severe slump will have an impact of the UK’s credit rating and the credit reference agencies will mark the country down. This will mean that debt service costs on the UK’s debt (which is considerable) will go up.

    This will of course cause a political crisis. It could well force a vote in Parliament for something like a second referendum.

    Brexit is NOT a done deal.

    It might not happen.

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