Fitch: UK's Brexit deal ambitious, outcomes remain unclear

Economy | Politics 1/18/2017, 2:02 PM
Fitch: UK's Brexit deal ambitious, outcomes remain unclear

Even though the British Prime Minister Theresa May managed to clarify some of Britain's Brexit objectives, the envisaged outcome of the negotiations with the European Union remains unclear and the timescale for reaching an agreement ambitious, Fitch Ratings said on Wednesday. 

The credit appraiser referred to yesterday's speech by the prime minister as the first comprehensive, public presentation of the government's Brexit priorities, which revealed the United Kingdom plans to leave the single market and withdraw from the EU Customs Union. However, the uncertainty for economic policy, external trade and regulatory frameworks created by June's Brexit vote remain a rating weakness for the country, the agency noted.

Fitch concluded that, despite these clarifications, there remains a wide range of possible outcomes regarding future trade and institutional arrangements between the UK and EU, and thus the agency's sovereign ratings assessment is not predicated on any particular base case. 

 

TeleTrader Newsroom / IB

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