Reed Cavendish Wealth Management - Economists Criticize UK's Brexit Negotiations
Even as Theresa May battles to overcome obstacles in Brexit negotiations, Reed Cavendish Wealth Management economists say chance of "No Deal" Brexit is slim.
TAIPEI CITY, Taiwan, September 4, 2018 (Newswire.com) - According to a recent survey, economists believe that the UK’s government has dealt with Brexit divorce negotiations badly. However, Reed Cavendish Wealth Management economists say there is only a 20 percent chance of a disorderly Brexit.
In June 2016, the UK shocked the world by voting to leave the European Union after a 40-year long political partnership and trading relationship. In March last year, Prime Minister Theresa May began a two-year negotiation to work out the terms of Britain’s exit from the bloc.
But Reed Cavendish Wealth Management economists say that Prime Minister May has battled to bring her cabinet together, and several differences continue to present as obstacles in the negotiation process.
In a recent poll, economists were asked to rate the UK government’s divorce negotiation skills, and the majority of economists delivered an overwhelmingly negative rating.
Reed Cavendish Wealth Management economists say that even with such negative feedback from the surveyed economists, most do not believe there is a strong chance of a disorderly Brexit. Economists believe the most likely outcome will be a free trade agreement between the UK and the European Union.
Economists believe the second most likely outcome would be a European Economic Area membership deal under which the UK would maintain full access to the EU single market for a fee. The third, and what Reed Cavendish Wealth Management economists believe to be the least likely scenario, is an exit without a deal. In this case, Britain would trade with the EU under World Trade Organization’s regulations.
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Source: Reed Cavendish Wealth Management