Brexit Armageddon grows more likely

Queue lorries traffic jam border trade from Adobe 230x150
By Jon Hay
11 Dec 2018

Rising hopes that the UK can escape the nightmare of Brexit are misplaced. A second referendum would carry huge risks, and even if the outcome were Remain, it would leave an unstable Britain with a damaged relationship with the rest of the EU.

The postponement of Parliament’s vote on Theresa May’s Brexit deal bodes ill for UK capital markets in the short term. It also raises grave longer term risks — above all, a No Deal Brexit or serious political and social upheaval.

The cautious welcome markets and some analysts have ...

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