Brexit Bulletin: Nothing Will Ever Be the Same Again
Brexit Bulletin: Nothing Will Ever Be the Same Again
Days to Brexit: 23
(Bloomberg) --
What’s Happening? The first salvos in the trade talks that will follow Brexit are fired.
So much for Brexit bringing catharsis. Both sides are digging in as they prepare to negotiate their future relationship after Britain leaves the European Union at the end of this month.
In her first intervention on Brexit in the U.K., since becoming President of the European Commission, Ursula von der Leyen warned that it will be “impossible” for the U.K. to reach a comprehensive agreement before Prime Minister Boris Johnson’s self-imposed year-end deadline.
Speaking at the London School of Economics, she reiterated the EU’s position that the more Britain chooses to diverge from the bloc’s standards after Brexit, the less access to the single market it will have. For good measure, she issued a blunt reminder to the City of London that its access to the bloc will never be the same again.
At least she will have something to talk about when she meets Boris Johnson this afternoon in Downing Street for the first time. Officially, the pair won’t be talking trade, only the year ahead. But if you thought the battle over Brexit was bitter, von der Leyen’s comments are a sharp reminder that the bigger fight is yet to come.
Beyond Brexit
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Carlos Ghosn addressed the media less than two weeks after becoming the world’s most famous fugitive with a daring escape from Japan to Lebanon. The former auto titan went on the attack against Japan’s criminal justice system in a press conference that lasted more than two hours on Wednesday.
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Iran responded to the killing of Qassem Soleimani with targeted missile strikes on U.S. bases in Iraq, which may offer President Donald Trump a path to avoiding a wider war with unpredictable and devastating consequences.
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As many as a billion animals may have been killed in Australia’s wildfires since September, a scientist said, doubling his previous estimate.
This week, we’re bringing you a selection of the best and most popular stories from beyond the world of Brexit.
Brexit in Brief
No-Deal Warning | ECB policy maker Klaas Knot said a no-deal Brexit remains a possibility in 2020 and could lead to trade between between the EU and Britain falling by 20% in the coming years.
Optimistic View | Goldman Sachs strategists believe 2020 bodes well for U.K. equities—although that depends on how negotiations with the EU turn out.
New Opportunities | Mark Carney predicted that the City of London could benefit from financing the transition to a low carbon economy in place of some EU activity, in an interview with the Financial Times.
Refugee Rejection | MPs have rejected an attempt by Labour to reinstate child refugee protection rights in the Brexit bill.
Helping Hand | Shadow Brexit Secretary Keir Starmer’s campaign to be Labour leader received a boost after he was backed by Unison, the U.K.’s largest trade union.
Want to keep up with Brexit?
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--With assistance from Caitlin Morrison.
To contact the editor responsible for this story: Guy Collins at guycollins@bloomberg.net
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