British Pound To Suffer In Coming Weeks?

The British pound is experiencing a downturn in the international exchange market. Significant concerns have arisen over the newly appointed Prime Minister, Boris Johnson. One of the major concerns is his rhetoric of forcing a no-deal Brexit should negotiations fail before the October deadline.

Major Concerns Over Brexit

In recent weeks, pressure has been mounting on the UK to find a solution to the Brexit problem. The former head of the Brexit department, Philip Rycroft, has stated that a no-deal scenario would be fraught with risks. Additionally, Northern Ireland police leaders have warned that a no-deal scenario would help in the recruitment of paramilitary groups.

Boris Johnson has reiterated in his early speeches that no-deal is still an option. While there are hopes that the EU will be able to offer a better deal than the one currently presented to the UK government, the trading bloc has stated that it will not renegotiate the deal. To combat this, MPs are attempting to block the no-deal scenario through bills presented to parliament.

Civil Servants and Businesses Not Helping

One of the confusing aspects of the Brexit fiasco is that civil servants, who were employed to help with the transition in the event of a no-deal scenario, have been stood down. However, reports have suggested that they are on standby should they be needed. Another problem for the government is that its own business advisors are refusing to agree to certain aspects of the border issue in Northern Ireland.

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