Boris Budges Britain Back to Brexit Brink with Ballsey Break-up
2 September, 2019
Welcome to another ‘edge of your seat’ episode of ‘What Boris Did Next’ with twists turns, proroguing, sackings and some surprise moves by the supporting cast of opposition politicians.
Firstly Boris Prorogues Parliament. This is a formal term used for the end of a Parliamentary session. Normally marked with a ceremony in the House of Lords and a speech read on behalf of the Queen but what Boris has done in Proroguing Parliament early, whilst politicians are still on their summer break, is to ensure that all Parliamentary motions that have not been answered or bills that have not attained Royal assent, will not progress any further.
This means that MP’s will now return to work (questionable) on the 14th of October and will have to debate, agree and pass motions in just over two weeks before the October Brexit deadline. Some might say this was ‘underhand’ and despicable, some might say this was a shrewd move, however, you look at it, we have just taken another leap closer to a ‘no-deal Brexit’, which is what ‘Boris’ character’ was always aiming for.
Jeremy Corbyn went into full-on ‘Sweeney mode’, saying that this was a ‘smash and grab on British Democracy’ and is making his case louder than ever, for all to come together under him to stop Boris. Now, this seems like a strong plan, you know ‘the enemy of my enemy is my friend’ and all that but most other politicians only have one problem with this, Jeremy Corbyn.
Not to worry though, as Sir Keir Starmer has a plan. He wont actually share what it is but you know that when he does, it will be a really good one.
Then you had Sonia Khan who was previously a ‘special adviser’ to Phillip Hammond (there is a joke in there somewhere) being sacked (apparently by Dominic Cummings) for allegedly leaking information and helping Boris Johnsons’ opponents fight against his Brexit strategy. Not only did she lose her job but she was also unceremoniously escorted off the premises by the police. Sajid Javid was said to be livid, although you can never quite tell with Sajid, as livid and thinking what to say next, seem to have the same expression.
So Boris letting it be known to all in his party that ‘resistance is futile’ and anything less than total confidence in what he is trying to do, will not be tolerated with further expulsions promised.
Across the pond, we have President Trump who has been putting a tariff on anything that is not American.
As American businesses are beginning to suffer, President Trump tweeted that any American businesses failing are ‘either really tiny or run really badly’.
He has also been praising Boris and saying loudly to anyone that will listen (which is all of the U.S and most of Europe) that ‘Boris is a great guy, doing a great job and that they will make great trade deals together’. A bit staged? Maybe but there are many who feel that this could be the silver lining for the UK when/if (no definitely when) we leave Europe.
However, try not to forget President Trumps’ last visit here. He came on a Royal invite to meet the Queen and ended up ‘eyeing up’ the NHS, stating what he would do with it and how he would turn it around. Mmmm scratch my back and I’ll scratch yours perhaps?
So how have the markets reacted? Well recently we have seen Sterling at its lowest rate against the Euro for over 10 years and now we have a series of ‘currency spikes’ which are misleading and driven by U.S Presidential sentiment and UK politicians voicing their outrage and stating what they will do to avert the path that the UK is taking.
So where does all of this leave you, as someone who is looking to exchange and transfer currency? Well, the good news is that you are not alone.
At Currency Index, we monitor the live markets. With our analytical approach and experienced Consultants, coupled with our financial mechanisms such as Forward Options, Limit Orders and Stop Losses, helping you achieve the best rates possible.
Whatever Boris does next, you can rest assured that you are in good hands.
- Yesterday saw sterling edge up against most major pairings 18 September, 2019
- Last week we have seen some consistent gains for Sterling 16 September, 2019
- Parliament Suspended 11 September, 2019
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