UK PM May spokesman: No deal remains the legal default

UK PM May spokesman: No deal remains the legal default


British Prime Minister Theresa May's spokesman crossed the wires in the last minutes saying that the no-deal is still the "legal default" and added that the government continues to responsibly prepare for it.

Key quotes (via Reuters)

As PM said on Friday, it is now for others to find the way forward on Brexit.
Legal text that was agreed with the EU was that we would not be seeking to reopen the Withdrawal Agreement.
PM will meet with EU’s Tusk in Brussels on Tuesday update him on her statement on Friday.

Source: ... 1905281038
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Re: Brexit - everything you need to know

For the first six months of the year alone scammers have stolen some 616 million pounds from bank account holders in the UK, of which 207,5 million pounds were lost in scams, where victims directly authorized payments to an account controlled by fraudsters.

This represents a rise of 40% compared to the same period a year ago, the latest data of UK Finance reveals.

The type of scams where victims directly authorize a payment are known as authorized push payment (APP) and includes cases where criminals hack into e-mail accounts, both corporate and personal to mislead people to transfer large sums.

Brexit Deal Reached: GBP/USD soars towards 1.30

Breaking: GBP/USD soars toward 1.30 as Brexit deal reached

Reporters in Brussels say that a Brexit deal has been agreed. One reporter announces "white smoke" and another says that Chief EU Negotiator Michel Barnier has briefed reporters and said that a deal has been reached.

Prime Minister Borish Johnson tweeted:

We’ve got a great new deal that takes back control — now Parliament should get Brexit done on Saturday

European Commission President Jean-Claude Juncker praised the deal:

"Where there is a will, there is a #deal - we have one! It’s a fair and balanced agreement for the EU and the UK and it is testament to our commitment to find solutions. I recommend that #EUCO endorses this deal."

GBP/USD is surging to new five-month highs above 1.29 and toward 1.30.

GBP_USD (77)-637069016904888850.png

EUR/USD is also getting carried higher and crosses 1.11.

Source: ... 1910170929
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Re: Brexit - everything you need to know

Brexit: What The European Union Loses

1,317 days since the nation went to the polling booths and voted to leave the European Union, 'Brexit Day' is finally here.

A lot has been written, forecast and argued about what the effect on the UK will be once it is finally out of the EU, but in this infographic, Statista's Martin Armstrong looks at it from the other side.
Once the transition period comes to an end on 31 December 2020, the EU will once and for all lose 13 percent of its total population.
Economically, 15 percent of GDP will now also be on the outside of the union.
The UK's significant gross contribution to the EU budget will of course also be gone, making for a loss of 12 percent. ... nion-loses

Re: Brexit - everything you need to know

Due to the impending Brexit the FCA has officially clarified that for now the European Union law will continue to apply to companies regulated by the FCA. They will remain in effect until the end of the implementation period, which will last until 31st December, 2020.
More importantly, new regulation that comes into effect during this implementation period will also apply.
On the upside, that means that companies with licenses issued by the FCA will continue to benefit from passporting between the UK and EEA, and that consumer rights and protections derived from EU law will also remain in force.
I think the question on everyone’s mind is what happens after that?

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