Reports from Number 10 this morning have revealed that Prime Minister Theresa May is set to ask the EU for a short extension to Article 50. Downing Street said that May shares the public’s ‘frustration’ at Parliament’s ‘failure to take a decision’.
At the EU summit tomorrow, leaders will assess reasons and usefulness of an extension. EU Brexit negotiator Michel Barnier has said the EU will not grant a delay without a ‘concrete plan’ from the UK about what they would do with it. There are also apparently fears that granting a lengthy extension could see Britain demanding concessions from the EU.
As political uncertainty continues, so does uncertainty for the pound. Please do call your Personal Trader on 020 7898 0541 to discuss risk management strategies that can protect your business.
