Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

EU Prepares For A No Deal Outcome

Currently, Mrs May is using the spectre of a “no deal” Brexit as a cudgel to batter MPs of all persuasions that the only way to avert it is to back her deal. Of course, this is plainly untrue since the ECJ confirmed that the UK can unilaterally withdraw Article 50 notice and remain in the EU on current terms. Whilst she clings on to power, her raison d’être is to “deliver on Brexit” which is why she is resisting a second referendum currently and why she is trying to force “her” deal through. Many openly doubt that a UK government would unleash “no deal” on the public, if it still had options, but the EU is forced to go along with the charade.

The EU has published a raft of 14 measures intended to mitigate against a hard Brexit in key areas including finance and transport covering eight sectors. They are intended to provide a stop-gap of continuity if the UK crashes out of the EU in 100 days.

The measures include a 12-month permission for UK based aviation to fly into (and over) European airspace, but will no longer permit it to fly within the EU (i.e. between two EU states); haulage companies would be granted nine months of continued operation before being requires to apply for (very scarce) permits; partial recognition of UK financial services would continue for one or two years.

The EU made it plain that the contingency plans are to be time limited and can be terminated by them without consulting the UK.

A hard Brexit would immediately impose delays on the transport due to the application of customs duties and all livestock would have to be inspected. The facility of a UK based carrier to fly between EU airports (e.g. from Brussels to Vienna) would cease to be a guaranteed right. Financial passporting from the UK to the rest of the EU would be terminated on a hard Brexit and other passports of a more sentimental value (pet passports) would no longer be valid. This would mean travellers would either have to leave their pets in the UK or put them through quarantine in the EU (and probably UK upon return).

The “meaningful vote” which will either endorse or reject May’s deal that was postponed on 11th December 2018 is now set to take place in the week of 14 January 2019.

Dr. Mike Campbell
About Dr. Mike Campbell
Dr. Mike Campbell is a British scientist and freelance writer. Mike got his doctorate in Ghent, Belgium and has worked in Belgium, France, Monaco and Austria since leaving the UK. As a writer, he specialises in business, science, medicine and environmental subjects.

Most Visited Forex Broker Reviews