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Showing posts from April, 2017

Brexit Begins

You may recall that last summer the investment markets were panicked by the U.K. voting to exit the European Union. There were dire predictions about the impact on the U.K. economy, which never materialized, in part because the U.K. had not yet formally opted out of its Eurozone agreements.  At the end of March 2017, the U.K. did pull the trigger, making the departure official. So that means those dire predictions will finally come true. Right? Under the bylaws, the divorce will be negotiated over the next two years, meaning that any change in economic circumstances will be gradual and perhaps accommodated as they happen. How gradual? Over the next several weeks, the EU’s remaining 27 members will discuss their priorities in before the negotiations and then hold a summit on April 29. Only then will the European Commission have a mandate to negotiate with representatives from London.  Items Negotiated in Brexit   What will the negotiations cover? Britain’s obliga