30 Mar '17, 3am

4 bumps the UK will have to face now that May has triggered Article 50: Even with the official commencement of the…

Even with the official commencement of the Brexit process – as finalised by Prime Minister Theresa May’s signature on the letter to trigger Article 50 of the EU’s Lisbon Treaty today – Bank of Singapore’s (BoS) chief economist Richard Jerram is certain that a deal for the UK to leave the Union is “almost impossible”. “To reach an agreement on such a complicated issue as market access – a new trade deal – in such a short time frame is hard to imagine,” expounds Jerram in an economics research report on Wednesday, noting that the UK is “not well-placed to bear the costs of a messy exit” given its large budget and trade deficits. Unrealistic schedule For starters, Jerram notes a challenging timetable for the exit to occur given EU’s intention to come to a deal on the UK’s bill for exiting first, before discussing residency rights of EU citizens …

Full article: http://thefinance.sg/2017/03/30/4-bumps-the-uk-will-have-...

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