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Brexit: Pandora’s Box

Just before midnight in Luxembourg last night when the European Union seal stamped the draft law on the summit on Friday, it officially confirmed what we had known for weeks – that June would pass in the same way as many other months before – not as a symbol of progress, but as a symbol of the lack of such.

The moment of truth is approaching. Hard issues need to be resolved soon. Of course, most answers have to come from London. Prime Minister Theresa May will meet with his cabinet next week to finalize Britain’s position on future EU relations. It will have to find a solution to the problem that has been deviating from the government for over a year: how closely related to EU rules and regulations will be and what will the UK and EU relations be after Brexit ?

But the EU have their difficult conversations too. To what extent they will adhere to their principles that the single market comes in its entirety and obliges its members to provide free movement to European citizens. By approaching the critical moment of separation, this is the most important issue. Will the UK remain part of the Single Market for goods just to ban the flow of European workers to the country?

The European Commission, including EU Chief Negotiator Michel Barnier, as well as the most powerful countries led by Germany, said – NOT. Once you let the UK adjust the deal for its own benefit – who knows how this will end? As Josep Borrell said, Spain’s Foreign Minister, “Brexit is not a political problem but a pain in the ***”.

“Germany will say no, France will say No, Spain will say no,” Borrell finished. As one MP from one of the largest European nations has said – it will open the “Pandora’s Box”.

Brexit in Brief

Britain’s foreign secretary, Boris Johnson, did not deny that he had said “F *** Business” to a European official last week, but then specified, “I do not think anyone has to doubt the government’s passionate support for the business. the fact that I occasionally express skepticism about some of the views of those who profess to protect the business.”

The government of Theresa May runs the risk of slowly choking investment in car makers who are desperate for more clarity. But according to the European Services Forum, commodity-related problems have “dominated the debates so far”, although in fact the services account for a large share of the country’s GDP.

Source: Bloomberg


 Trader Aleksandar Kumanov


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