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Reaction To Theresa May’s Brexit Speech

January 18, 2017

brexit-zero

The UK’s Prime Minister, Theresa May, stepped up yesterday to set forth Britain’s position and plans for Brexit.

In summary, May said Britain will:

  • Leave the single market in order to control immigration and negotiate global trade deals.
  • Seek some form of access to the customs union, possibly for specific sectors.
  • Seek to to avoid a “disruptive cliff-edge” so a transitional, phased implementation is likely.

The Houses of Parliament and Lords will vote on the final deal.

May also warned against the EU trying to punish the UK for its exit saying that “No deal is better than a bad deal.”

The Prime Minister confirmed that Britain was prepared to walk away without a deal in place.

Reaction To The Brexit Speech

Whilst there was a range of commentary in reaction to May’s speech, the UK pound reacted strongly.

Pound

 

Jamie McGeever, the Chief Markets Correspondent at Reuters, pointed out the significance of the rise.

McGeever

 

Twitter was busy with supporters highlighting the positives of the Prime Minister’s statement with journalist, Piers Morgan particularly effusive.

Morgan

 

A little more restrained but still positive was David Allen Green, Financial Times law and policy expert.

Law

 

It wouldn’t have been a Brexit moment if Nigel Farage wasn’t involved.

Farage

 

The BBC reported on Germany’s reaction to May’s positioning on Brexit.

Hewitt

 

As expected, not everyone was happy. Chuka Umunna, Labour MP, was clear on where he stood.

Chuka

 

People such as Ian Dunt (Editor of Politics.co.uk), Paul Bernal (Law Lecturer), and others were clearly against May’s plan for Brexit.

Dunt

Bernal

Owens

 

With such a range of reactions, it does leave us wondering what the future holds and whether May’s approach will work. John Gapper of the Financial Times seems to think so.

Gapper

We’ll see what happens.

Check the latest British Pound exchange rate now.

 

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