The outcome of the negotiations with the Eurozone now that the Article 50 letter has been filed will shape the future of Britain's $2.6 trillion economy, and determine whether London can keep its place as one of the top two global financial centers.
For the EU, already reeling from successive crises over debt and refugees, the loss of Britain is the biggest blow yet to 60 years of efforts to forge European unity in the wake of two devastating world wars. Its leaders say they do not want to punish Britain. But with nationalist, anti-EU parties on the rise across Europe, they cannot afford to give the UK generous terms that might encourage other member states to break away.
As negotiations begin and the Scots call for a referendum there might be some volatility and trading opportunities as headlines will drive the markets. Keep in mind that the U.K. will still be part of the EU, with all of its rights and obligations, until the withdrawal agreement enters into force. There has been relief among investors now that the process – largely viewed as inevitable despite continued calls from certain high profile figures for the decision to be reversed – was finally getting underway.
Barry Norman The Director of Investors Trading Academy as well as a published author and educator. Barry brings with him over 35 years of financial market knowledge and experience. He holds an MBA in Finance and Economics from UCLA and an undergraduate degree in Economics from the University of Maryland. Barry was award the title of “Best Education in Europe” by Global Banking & Finance. Barry is also a presenter for the MoneyShow and many well-known news sources.