Would market shock force parliament's hand on Brexit? [Reuters (UK)]
The Bank of New York Mellon Corporation (BK)
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Source: Reuters
Would market shock force parliament's hand on Brexit? | Reuters 9 Min Read LONDON (Reuters) - There’s nothing like a market crash to focus the minds of politicians, and Prime Minister Theresa May could find that only a plunge in British asset prices can persuade a divided parliament to back her Brexit deal. But how much do investors reckon sterling and stocks would have to tank before lawmakers decide that a “no deal” exit from the European Union must be averted? Expectations that parliament will reject the withdrawal agreement May has negotiated with the EU have prompted investors to start buying protection against a sterling plunge, and implied market volatility measures are up. So far, however, there is no sign of the kind of financial market carnage that might swing both pro- and anti-Brexit MPs behind May’s deal for fear that Britain could blunder out of the bloc on March 29 with no transition arrangements in place. That suggests investors still see some form of negotiated exit a
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