The British pound has fallen sharply following Boris Johnson’s statements about the still existing option of a no-deal Brexit. The British Prime Minister said that the UK is prepared to stop trade talks with the EU if necessary.

The British government would propose a new bill that would nullify important parts of the withdrawal agreement with the European Union. London would thus bomb the current negotiations on a new trade agreement.

The pound made nearly 1 percent of its value against the dollar on Monday afternoon. It is therefore the largest drop in the pound since June this year. Connoisseurs believe that the pound may well lose value in the near future. They speak of the beginning of a “painful correction”.

The UK left the EU earlier this year. London and Brussels are now trying to agree on a trade agreement. There must be a deal before the end of the year, because then the transition period that started after the brexit will expire.

European top officials have repeatedly demonstrated in recent times that there is little progress in the negotiations. The British negotiator, in turn, warned that Brussels does not have to count on its country to compromise on issues it sees as breaking points.

Load More Related Articles
Load More By WeeklyNews staff
Load More In Politics

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Finma is ready to impose sanctions on Credit Suisse

The Swiss banking watchdog Finma looks for options to put penalties on Credit Suisse for s…