Boris Johnson Readies UK for No-Deal BREXIT

Boris Johnson Readies UK for No-Deal BREXIT

FLASH: The British government is working on the assumption that the EU will not renegotiate its BREXIT deal and is preparing to leave the 28 nation bloc on 31 October without an agreement.

Boris Johnson, the new British PM has promised to deliver BREXIT by the end of October “no ifs or buts,” plans to seek a new exit deal with the EU. The EU has said repeatedly that the deal cannot be reopened.

Leading BREXIT supporter Michael Gove, who PM Johnson has put in charge of ‘no deal‘ prep, wrote in the Sunday Times that the government would undertake “intensive efforts” to secure a better deal from the EU.

We still hope they will change their minds, but we must operate on the assumption that they will not … No deal is now a very real prospect and we must make sure that we are ready,” Mr. Gove wrote.

Planning for no deal is now this government’s # 1 priority,” he said, adding “every penny needed” for no deal preparations would be made available.

Mr. Gove said the government would be launching “one of the biggest peacetime public information campaigns this country has seen” to get people and businesses ready for a ‘no deal‘ exit.

The Sunday Times reported that Dominic Cummings, the mastermind behind the Y 2016 referendum campaign to leave the EU and now a senior aide to Mr. Johnson, told a meeting of the Prime Minister’s advisers that he had been tasked with delivering BREXIT “by any means necessary.”

PM Johnson has set up a “war cabinet” of 6 senior ministers to make decisions on BREXIT and is preparing for a no-deal emergency budget in the week of 7 October.

PM Johnson says the Irish backstop, an insurance policy designed to prevent the return of a hard border between EU-member Ireland and the British province of Northern Ireland by provisionally keeping Britain in a customs union with the EU, must be removed from any BREXIT deal.

Lawmakers from opposition parties and the governing Conservative Party have threatened to try and block PM Johnson taking Britain out of the EU without a divorce deal.

Labour leader Jeremy Corbyn said Sunday his party would do everything it could to prevent the country leaving the EU without a deal.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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