The British newspaper Sunday Times reported on the government’s plans for a Brexit without a deal.
“Senior government officials have said the UK is preparing to” move away “from trade talks with Brussels next month unless the EU steps down,” reports the Times.
The government’s XO (exit operations) planning committee, chaired by Michael Gove, met twice in a week in early May and senior officials have said it will now sit regularly to prepare with the prospect that no commercial agreement is concluded.
In a clear sign of intent, officials who had been transferred to deal with the coronavirus crisis were fired full time for preparations without agreement.
“XO is moving at a more steady pace over the next week,” said a source.
The pound is already under immense pressure.
“The pound was the worst performer, undermined by the woes of Brexit. The UK and the EU both signaled a deadlock in talks amid disagreement over EU demand for rules fair play.
Andrew Haldane, Governor of the Bank of England, said that “there are other options beyond that, or alongside that, which we are also looking into,” when he referred to interest rates. negative interest. He also discussed the use of quantitative easing, although he then clarified that he was not implicated that policy makers are ready to use any of these options, “- Forex Today: Dollar King Continues to Dominate