Brexit... so lets talk about Scottish independence instead.
Very predictable outcome. And JP Morgen have a record for right. Be afraid. Be very afraid. Unless you're living in Scotland, in which case party!!
source: Scotland expected to vote for independence and introduce its own currency after Brexit, JPMorgan says | The Independent
Very predictable outcome. And JP Morgen have a record for right. Be afraid. Be very afraid. Unless you're living in Scotland, in which case party!!
Scotland is on course to hold a referendum to vote for independence and introduce its own currency before the UK leaves the European Union in 2019, JP Morgan has said.
Malcolm Barr, an economist at JP Morgan, said that there will be “pressure to hold a new referendum on Scottish independence” as the UK seeks a deal with the EU following its vote to leave the European project.
“Our base case is that Scotland will vote for independence and institute a new currency at that point [2019],” Barr said in a note to clients on Wednesday.
Scottish MEP receives standing ovation for speech on Brexit
The note also stated that the UK will be unsuccessful in its negotiating process.
UK lawmakers are expected to try and establish access to the single market without accepting free movement of labour or contribution to the EU budget.
This means that UK is likely to end with “curtailed” access to Europe’s market, according to JP Morgan.
“The hit from EU exit will demonstrate itself as a persistent drag on a positive growth rate, rather than generating an on-going contraction,” JP Morgan said.
Malcolm Barr, an economist at JP Morgan, said that there will be “pressure to hold a new referendum on Scottish independence” as the UK seeks a deal with the EU following its vote to leave the European project.
“Our base case is that Scotland will vote for independence and institute a new currency at that point [2019],” Barr said in a note to clients on Wednesday.
Scottish MEP receives standing ovation for speech on Brexit
The note also stated that the UK will be unsuccessful in its negotiating process.
UK lawmakers are expected to try and establish access to the single market without accepting free movement of labour or contribution to the EU budget.
This means that UK is likely to end with “curtailed” access to Europe’s market, according to JP Morgan.
“The hit from EU exit will demonstrate itself as a persistent drag on a positive growth rate, rather than generating an on-going contraction,” JP Morgan said.
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