Robert Zoellick, UK, World Bank discussed on Biz 1190 Overnight featuring Bloomberg Radio
That we are delivering on Brexit for the British people is the deal this house tomorrow. Gerbil logic while the former World Bank, President Robert Zoellick has raised his concerns about the implications of Britain leaving the EU with is a deal. A non Brexit deal would be a disaster. And but I think I think the process still has more courses to run. Guest host is the upper by he is head of Asia strategy at CitiGroup. Global Asia markets. Great to have you with us. This morning. Very simply put if she's defeated by the most in ninety five years. Do you agree? It could induce a top in a moment in the pined and take is dying towards one twenty two. Are we facing top day? I think that there is it very much depends on the timing of the timing of the vote could be anywhere between seven pm UK time to about ten pm UK time. Maybe even Layton that happens at seven PM. Then, of course, New York markets will probably still be open. We'll be able to access the mule liquidity. The real question is does it happen? A bit later than that in which case the first people to react, and the first market reaction that will come from the currency markets will probably come from traders when New Zealand opens, and you remember a few months ago when there was a very short move in sterling over that time period last week as well when we saw that move in the yen as well. So we are watching for illiquidity. In terms of the timing. We're waiting to see exactly what happens really what the measures that are announced after the vote. Actually occurs. Do you get the sense that the market is clamoring on a delay here or on the scenario of a delay getting played out? That's what the markets live team is asking. Actually, we put this up as well. This for this little perspective. This is the key question. Then is Brexit delay. Good or bad for UK assets. Well, I think that the market is certainly looking to potential scenarios one is a delay in the March pretty ninth exit date within the prime minister said that that's not what she wants. But I think there is also the sense that European politics always go to the wire. And so if nothing happens at maybe hopefully, some deal will get agreed on March nine four or just immediately before then. There is some debate obviously about whether you know, what the impact of a no deal Brexit would actually be. And I think some people are thinking that it may be like, the the Y two K argument that we wake up on March twenty ninth and find that actually everything is okay. And the sky hasn't actually fallen down. Yes, let's.