UK, Europe, Prime Minister discussed on Biz 1190 Overnight featuring Bloomberg Radio
You Theresa May continuing sell her Brexit deal saying or eurosceptic opponents don't have the numbers to get rid of her vote on her leadership has been threatened. But has yet to be formally announced may has told her predicts that removing her won't change the situation the form of Brexit secretary Dominique rap he's quitting protests over the Deel last week. And he says he won't support a challenge. The prime minister. By Dominic Robb. I'm not going to stand in the Tory leadership contest. I'm even getting sucked into the. I you agree with that statement. I'm supporting I will not I will not be supporting anyone who is sending letters nineteen twenty two committee and in a vote of confidence. Meanwhile, there are reports in the British press that d- chief negotiator Michel Barnier is proposing the transition period to be extended to the end of twenty twenty two. Let's get back out to Hong Kong. Don, Gimpo senior vice president Atlantic trust private wealth medicine is with us dawn, how do you expect this to unfold over the coming hours, given the amount of opposition that the British Prime minister is is facing. Well, why don't we start out by saying it's a hell of a mess? There are people. Comparing it with the British pullout from Suez and and in nineteen thirty eight Neville Chamberlain. Neither of those make any sense to me. It's it's more. Like Henry the eighth leaving the Roman church. It seems to me. Where this is going. It's really hard to tell. I mean what what good is it? What what is the UK going to do? What is Europe going to do if these two areas break apart? Yeah. That's exactly that's exactly the question. Isn't it done? That's that's I mean, we're we're we're looking for you to weigh in. I mean, what is your base case we have a GT library GDP go for our clients chose the probability of a second referendum. That's been rising. We're now just short of forty percent. What is your most likely scenario? What are you telling clients about how this is going to go? I think the break-up is going to happen. I think what is important is whether the UK can form at bilateral relations of of significance with both the United States and the People's Republic, China, those are the those are the that's the question. It's not whether what's going to happen over long period of time between the UK and Europe. The work it out at a at a reduced rate. But what's really important for the British is the relations with both the US and China, and I think we should be focusing on that rather than wonder what year what month what day the relationship between the UK and Europe changes. So what does that mean for UK assets? I is this a buying opportunity. I mean thinking about cable here thinking about UK stocks and bonds. Yeah. I think what you have to look at is what international companies are located in the U K and were the with in my opinion, probably a lower value to the to the pound. What what what does that mean for international companies based in the UK, and I would suggest that that might be a positive so in terms of of losing money. I I would say you're going to lose money and pound sterling but companies that do a fair amount of international business that are based in the UK. It could be a plus. Don is great catching up with you. Don't get full senior vice-president Atlantic trust private wealth management. All right. Let's get you a bit of a snapshot of.