Start Trading Now Get Started
Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Brexit Debacle Continues

By Dr. Mike Campbell
Dr. Mike Campbell is a British scientist and freelance writer. Mike got his doctorate in Ghent, Belgium and has worked in Belgium, France, Monaco and Austria since leaving the UK. As a writer, he specialises in business, science, medicine and environmental subjects.

The UK government is continuing with the pretence that it is negotiating with Brussels to resolve the impasse over the Northern Ireland backstop provisions in the withdrawal agreement. Hard-line Brexiters in the (just about) ruling Conservative Party and its backers in the DUP are adamant that the backstop arrangement must be removed from the deal or that the UK be given either a time limit on its applicability or the ability to leave it in a unilateral fashion. The backstop is intended to avoid the implementation of a “hard” border on the island of Ireland which is a requirement of the Good Friday Agreement which brought “The Troubles” to an end when paramilitary groups agreed to follow the path of peace.

The obvious elephant in the room is that a backstop which is time limited or can be unilaterally scrapped isn’t a backstop. Whilst neither the EU or the UK envisage a situation where the backstop would become a permanent feature, this is not enough for the purists. This means that the UK’s Attorney General and Brexit Secretary have been visiting Brussels in the hope of a fanciful breakthrough which could satisfy the DUP and ERG and give the withdrawal agreement a chance of passing through the Commons. It is a political unicorn safari.

May is pledged to offer another “meaningful vote” on her deal on or before 12th March. If it fails, parliament will vote to determine if a “no deal” exit is acceptable (it isn’t). Then they would vote to instruct the PM to ask Brussels for an extension of the A50 notice period. This would require the unanimous agreement of the remaining EU member states and it is not a foregone conclusion that it will be granted. Should that happen, the UK would have the choice between a disorderly Brexit or rescinding its A50 notification.

In the event that the EU grants an extension, some suggest that it would only do so for a lengthy period (21 months is mentioned); others think it could run until the EU parliament reconvenes after European elections (July 1st) since the UK would have no MEPs after that date which generates legal issues. The French position (currently) is that it would only agree to an extension if there was substantive change in the UK: either a change in May’s red lines, or a further referendum. However, the situation is fluid and UK politics is the most volatile it has been in a generation.

Dr. Mike Campbell
About Dr. Mike Campbell
Dr. Mike Campbell is a British scientist and freelance writer. Mike got his doctorate in Ghent, Belgium and has worked in Belgium, France, Monaco and Austria since leaving the UK. As a writer, he specialises in business, science, medicine and environmental subjects.
 

Most Visited Forex Broker Reviews