If the UK can’t get it’s act together over Brexit, the EU wants to template the Canadian trade deal

The FT are out with a sources story citing European officials.

  • Bloc to make limited-access trade offer if Britain fails to clarify demands before summer
  • Will present UK with a skeleton trade plan UK is unable to clarify its demands and remains in “Brexit La-La land

One official said;

“If the commission sees that it’s not getting any clarity on this then it is preparing a ‘take it leave it’ proposal,”

Full story from the FT here.

GBPUSD is showing some weakness as it falls to a low of 1.3338. It might be this story is hitting the wider press now.

This is another attempt to shoe-horn the UK into making an early decision on trade and a deal styled on the EU/CAD one would be a lot less than what the UK would want or need, and thus GBP negative. Be on watch for any comments from the UK government.

Ryan Littlestone

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