Market Friday: Who’s Afraid of a No-Deal Brexit? by Tom Luongo

Boris Johnson is probably going to get a no-deal Brexit, which is what he wanted all along. From Tom Luongo at tomluongo.me:

To answer the question in the title… not Boris Johnson. If anything Johnson’s plan from the beginning has been to maneuver events to this state.

The latest news is that Boris just left his final offer on the table for the EU, walked away from talks but left the door open.

Johnson’s spokesman said shortly afterwards that talks were now over and there was no point in the EU’s chief negotiator Michel Barnier coming to London next week barring a change in approach.

“The trade talks are over: the EU have effectively ended them by saying that they do not want to change their negotiating position,” his spokesman said.

Johnson’s brinkmanship, which follows an EU demand that London make further concessions, may push Brexit towards disorder, though he still left open the possibility that the EU could reconsider and offer Britain a better deal.

“Unless there is a fundamental change of approach, we’re going to go for the Australia solution. And we should do it with great confidence,” he said.

The Australia solution is No-Deal and WTO terms.

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