”Common sense” won vote on no-deal
The finance community of London rejoices temporarily as parliament says no to a no-deal EU exit.
Plenty reaction comes from various financial players in the turbulence ahead of the scheduled exit of the United Kingdom from the EU on 29 March.
On 12 March, parliament said no to the exit agreement worked out between prime minister Theresa May and the EU. Then, the day after, it also voted down the idea of exiting without one. When this piece is being written, on 14 March, the house is soon to vote on a postponement of the exit.
11 voices captured
News site Financial News publishes a pick of comments from 11 professionals in the area.
”It seems inevitable that [the 14 March] vote will result in the extension of [the Article 50 Brexit process]. That is when things will get very interesting and parliament will have to, in just three months, agree on what type of Brexit they actually want. If they manage to achieve cross-party support for a deal, likely a ’softer Brexit’ sort of a deal – this could potentially be very good news for UK assets,” says Russell Silberston, co-head of multi-asset funds at Investec Asset Management.
A step away from the brink
Catherine McGuinness, policy chair of the City of London Corporation, is thankful for the no to a no-deal Brexit in the second day of voting.
”Parliament’s decision to reject a hugely damaging no-deal Brexit is a victory for common sense. MPs have rightly voted in the interests of businesses and households by taking a step away from the brink,” she says.