Press Release (ePRNews.com) - TAIPEI CITY, Taiwan - Sep 26, 2018 - Angela Merkel, Germany’s Chancellor, recently stated that a Brexit agreement between the UK and the European Union could be reached as soon as next month but cautioned that the UK government’s conditions remain unclear.
Reed Cavendish Wealth Management analysts say it is the EU’s view that Britain cannot opt to remain a part of the single market without abiding by all its regulations.
The British government wants to limit the number of EU citizens relocating to the UK. At a recent cabinet meeting, British Prime Minister, Theresa May’s administration decided that European Union laborers should be subject to the same rules and regulations as non-EU workers.
Analysts at Reed Cavendish Wealth Management believe that this policy could harm Britain’s economy in the long run.
Merkel has called for more clarity from the UK for European companies and this will create difficulties for Brexit negotiators over the coming weeks.
Although both parties have insisted that it is important to reach an agreement before the end of this year, Reed Cavendish Wealth Management analysts are doubtful that such a resolution will be achieved.
Although Reed Cavendish Wealth Management analysts do not think a no-deal Brexit would be an intentional outcome, with just over half a year until the UK leaves the European Union, this is becoming a more likely outcome. Reed Cavendish Wealth Management analysts have underlined the risks associated with a no-deal Brexit and the unavoidable economic disruption that would severely impact both the EU and the UK.
The forecast economic growth for the UK for this year is 1.4 percent and 1.9 percent for 2019.
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Reed Cavendish Wealth Management