Brexit News Archive: 01 Feb 2019

UK government begins 'serious work' on UK staying in EU customs union - The Independent

British officials have begun "serious work" on the UK staying in a permanent EU customs union as a way to rescue the Brexit deal, the Independent newspaper reported on Friday.
Reuters   |   Fri, 1 Feb 2019 22:23:20

Small extension to Brexit timetable could be acceptable - Rees-Mogg

Prominent British eurosceptic lawmaker Jacob Rees-Mogg said he could accept a short delay to the departure from the European Union on March 29 if Prime Minister Theresa May pursued his plan for Brexit.
Reuters   |   Fri, 1 Feb 2019 21:58:52

EU gives airlines deadline for no-deal Brexit

Plan would potentially force sales of shares for carriers to stay in the air
FT   |   Fri, 1 Feb 2019 21:30:06

EU's Gibraltar 'colony' line boosts Spain

Document issued by Brussels angers London but helps Madrid in centuries-old dispute.
Diego Torres / Politico   |   Fri, 1 Feb 2019 20:00:22

GBP: We would expect a 12% to 14% drop or so on a hard Brexit - Rabobank

Analysts at Rabobank, explained that investors may have become a little more wary about Brexit risks over the past week they noted that the performance of the pound during the last weeks demonstrate a lot of optimism is still in the market. As a result, the market is likely ill-prepared ...
FX Street   |   Fri, 1 Feb 2019 19:37:46

US banks shifting some London staff ahead of Brexit deadline

With two months until Brexit takes effect, US banks have begun transferring some London staff to Continental Europe and drawing up contingency plans in case of a "hard" Brexit. Around 400 Bank of America employees are set to transfer to Paris and Frankfurt starting in February, according to a person ...
sellputs / Hedge Accordingly   |   Fri, 1 Feb 2019 19:37:26

Brexit: Whitehall officials begin 'serious work' on UK staying in EU customs union as way to rescue deal

Exclusive: Preparations begin amid belief beleaguered prime minister will be forced to offer Labour the potentially crucial compromise
Rob Merrick / The Independent   |   Fri, 1 Feb 2019 18:58:00

Novo stockpiling product in UK ahead of Brexit

Seeking Alpha   |   Fri, 1 Feb 2019 17:46:20

BoE Preview: Delayed Brexit, delayed hikes - TD Securities

"The ongoing delay in signing off on a Brexit Withdrawal Agreement has left uncertainty elevated longer than we previously expected," note TD Securities analysts. Key quotes "We anticipate that Article 50 will ultimately be extended by up to a few months. Therefore, we expect the next BoE rate hike to ...
FX Street   |   Fri, 1 Feb 2019 17:41:21

The Brexiteer blame game is only just getting started - Remainers have to fight harder for the truth

The first part of the plan is to shift responsibility on to the EU by making impossible demands, which are then not met
Tom Peck / The Independent   |   Fri, 1 Feb 2019 17:34:01

Is Chile a Brexit seer?

Agreement with the UK aims to protect trade relationship between the two countries
FT   |   Fri, 1 Feb 2019 17:26:56

Weak EU economies will push for deal, asserts Fox

Trade secretary joins ministers saying delay to Brexit day may be necessary
FT   |   Fri, 1 Feb 2019 17:16:21

Your Guide to Brexit as the March Deadline Looms

Just as the Brexit saga was about to come to an end, it got more dramatic and a lot more confusing. An already uncertain process was thrown into disarray when the U.K. Parliament rejected, by a historic 230-vote margin, the divorce deal that Prime Minister Theresa May had spent 18 ...
Washington Post   |   Fri, 1 Feb 2019 17:07:34

The free market is a destructive myth. Down with the free market

In a time of the messy Brexit divorce and acrimonious US-China trade relations, there is angst over whether the world is entering a period of disorder. This month will witness whether these relationships can be saved. But it is already clear that Brexit will happen, deal or no deal, and ...
Andrew Sheng / South China Morning Post   |   Fri, 1 Feb 2019 17:00:30

It's not Brexit but Deutsche-it you want to worry about

While everyone is endlessly told about the world-ending dangers of Brexit, I wonder if we should be paying a little more attention to Deutsche-it. If the UK leaves the EU the EU will survive. But what happens when - and surely it's no longer if - but when Deutsche, Germany's ...
Golem XIV / Golem XIV   |   Fri, 1 Feb 2019 16:59:19

Brazen Bercow Insists He Will "Help the House Decide" Which Way Brexit Goes

How does Bercow respond to criticism? He gives an interview to CNN unapologetically defending his right to support anti-Brexit and "help the House decide" which way Brexit goes - before going on a rant about Shameless. - Hugh Bennett (@HughRBennett) February 1, 2019 John Bercow has given a brazen interview ...
Hugh Bennett / Guy Fawkes' blog   |   Fri, 1 Feb 2019 16:36:46

Tory Brexit Truce Breaks Down As Dominic Raab Attacks 'Remainer' David Lidington's Role In Negotiations

Arj Singh / Huffington Post   |   Fri, 1 Feb 2019 16:34:41

No incentive for EU to blink on Irish border

Basic miscalculations over the backstop make a no-deal Brexit frighteningly likely
FT   |   Fri, 1 Feb 2019 16:22:56

EU will define Gibraltar as a 'colony' if there is a hard Brexit

Spain has pushed for the dispute over the British Overseas Territory to be included in a footnote in a proposed law on UK traveling rights, a move May says is "completely unacceptable"
Rafa de Miguel / EL PAÍS   |   Fri, 1 Feb 2019 16:10:19

EU description of Gibraltar as British 'colony' is result of May 'trying to reopen Brexit deal'

Downing Street admits prime minister had warned Spain would exploit any bid to renegotiate withdrawal agreement
Rob Merrick / The Independent   |   Fri, 1 Feb 2019 16:06:00

What can the failed Brecq-xit teach us about Brexit?

Why Sark's divisions offer a cautionary tale for Brexit Britain.
FT   |   Fri, 1 Feb 2019 15:44:35

The Coming Revolution: Why the EU is the best body for negotiating our future with Silicon Valley

LSE MSc student Sam Gangadin-Guinness looks at what leaving the EU will mean for Britain's ability to reign in the powerful tech companies. The 2016 Brexit campaign was pitched as a crusade to repatriate Britain and 'take back control', however, subsequent scrutiny of the campaign run by Vote Leave exposed ...
Julia Ziemer / Charlie Beckett   |   Fri, 1 Feb 2019 15:16:06

Parliament is ill-equipped to deal with Brexit

Too many MPs are cowed by their constituents and in thrall to local parties
FT   |   Fri, 1 Feb 2019 15:13:08

A third of UK firms considering post-Brexit overseas move: Survey

More than a quarter of large businesses have already taken action or will do so because of Brexit.
Al Jazeera   |   Fri, 1 Feb 2019 14:46:51

Speaker defends Brexit impartiality - but admits 'concern'

House of Commons Speaker John Bercow has defended his impartiality over Brexit - but admitted his "concern" that MPs have yet to agree an EU withdrawal deal.
Sky   |   Fri, 1 Feb 2019 14:20:00

UK objects to description of Gibraltar as 'British colony' in EU law

The UK objects to language in legislation allowing visa-free travel for Britons after Brexit.
BBC   |   Fri, 1 Feb 2019 13:48:17

Labour's 'Fraying' Brexit Compromise Shows May a Path to Victory

There were 14 rank-and-file Labour members of Parliament who defied their leadership's instructions and opposed the proposal - handing victory to the prime minister. Eight members of Jeremy Corbyn's front bench team, who are supposed to follow party orders, also abstained. Labour has been trying to strike a balance between ...
sellputs / Hedge Accordingly   |   Fri, 1 Feb 2019 13:35:30

Bloomberg: Greece working to shore up tourism against no-deal Brexit

The Greek government is preparing draft bills and presidential degrees that will help mitigate the effects of a British exit from the European Union without a deal in place, news agency Bloomberg reported on Thursday.
Kathimerini   |   Fri, 1 Feb 2019 13:20:07

Ireland: Leo Varadkar's coalition government holds remarkably stable in face of Brexit

On paper, Theresa May and Leo Varadkar have much in common politically. Ideologically centre-right, both the British prime minister and Irish premier (Taoiseach) head minority governments that rest on precarious confidence and supply agreements. But Varadkar is in a markedly more stable position than his British counterpart, despite the fact ...
Gail McElroy, Professor in Political Science, Trinity College Dublin / The Conversation   |   Fri, 1 Feb 2019 13:19:02

UK manufacturers' stockpiling for no-deal Brexit hit record levels

Hoarding of raw materials is the highest on record for a major advanced economy The risk of border gridlock caused by no-deal Brexit has led British manufacturers to ramp up their stockpiling efforts to the highest levels on record for a major advanced economy. According to the monthly snapshot from ...
Richard Partington Economics correspondent / Guardian   |   Fri, 1 Feb 2019 13:18:29

We Will Be Friends After Brexit, MPs Tell Germans In Heartfelt Open Letter

Rachel Wearmouth / Huffington Post   |   Fri, 1 Feb 2019 13:06:16

A matter of life and death? UK stockpiles drugs as no-deal Brexit feared

With just 56 days until Britain leaves the EU, Jo Elgarf has begun stockpiling food in case politicians fail to strike an exit deal, but she says she cannot do the same with vital drugs her disabled daughter needs.
Reuters   |   Fri, 1 Feb 2019 12:55:40

Amid Brexit chaos, Ireland seeks international opportunity

As the drama of Brexit unfolds and the UK's land border with the Republic of Ireland becomes its defining issue, relatively little international attention has been paid to Ireland's post-Brexit future. Even as it responds daily to the manifold challenges Brexit poses, the Irish government has also been seeking fresh ...
Liam Kennedy, Professor of American Studies, University College Dublin / The Conversation   |   Fri, 1 Feb 2019 12:55:01

EU offers Britons visa-free travel

The European Union plans to allow UK citizens visa-free travel after Brexit if they are on a short trip.
CNN   |   Fri, 1 Feb 2019 12:38:11

Brexit: Leave.EU and Arron Banks' firm fined £120,000 over data breaches

Information Commissioner reduces Leave.EU's fine after "considering from pro-Brexit group.
BBC   |   Fri, 1 Feb 2019 12:33:46

Weak EU economies add urgency to getting Brexit deal - Fox

British Secretary of State for International Trade Liam Fox said on Friday he hoped that the European Union, facing a slowdown in the economies of some of its biggest members, will seek to settle Britain's request for new Brexit terms as quickly as possible.
Reuters   |   Fri, 1 Feb 2019 12:31:18

The FT's biggest stories and best reads every Friday

Courtney Weaver's top reads this week: Brexit and memories of the Irish border, ripple effect of the Huawei charges, the elusive elegant man
FT   |   Fri, 1 Feb 2019 12:29:40

UK factories stockpile at fastest pace in 27 years

Pound falls after manufacturing growth hits three-month low amid Brexit uncertainty
FT   |   Fri, 1 Feb 2019 12:27:28

No Deal Brexit: Foodbanks Preparing 'Crisis Response'

Nicola Slawson / Huffington Post   |   Fri, 1 Feb 2019 12:04:31

UK watchdog fines Leave.EU for Brexit campaign privacy violation

Use of personal data 'deeply concerning,' says UK's Information Commissioner.
Laurens Cerulus / Politico   |   Fri, 1 Feb 2019 11:58:52

IDS, Mike Gapes, and Wes Streeting Locked In Prison

Help! I've been locked in a cell with IDS and @MikeGapes. They won't stop arguing about Brexit! Get us out of here!!! Donate now for @ELHAP #RedbridgeJailbreak - Wes Streeting MP (@wesstreeting) February 1, 2019 Fiona Onasanya isn't the only MP to be locked away in prison this week. Iain ...
Tom Harwood / Guy Fawkes' blog   |   Fri, 1 Feb 2019 11:57:03

Amber Rudd: 'I wanted to take back control - and I did'

The Europhile MP on Boris, Brexit - and whether she will run for prime minister
FT   |   Fri, 1 Feb 2019 11:55:13

UK: Disappointing manufacturing data - TDS

Analysts at TD Securities note that the UK's January Manufacturing PMI disappointed as per their expectations, falling to 52.8, its second-weakest reading since mid-2016. Key Quotes "Strength was seen in the stockpiling index, which hit a record high as firms boost inventories ahead of Brexit, but production volumes hit a ...
FX Street   |   Fri, 1 Feb 2019 11:52:30

UK PM spokesman: Looking at options to secure changes to backstop in Brexit deal

The UK PM Theresa May's spokesman, James Slack crossed the wires in the last hour, saying that the government is looking at options to secure changes to backstop in Brexit deal and expects to discuss those with the EU shortly. May and ministers have had a series of meetings on ...
FX Street   |   Fri, 1 Feb 2019 11:48:19

UK expects to discuss backstop options with EU soon - May's spokesman

Britain is looking at what options there are to replace the Irish backstop in the Brexit withdrawal deal and expects to discuss them with the European Union shortly, Prime Minister Theresa May's spokesman said on Friday.
Reuters   |   Fri, 1 Feb 2019 11:45:29

Brexit campaign Leave.EU fined for unlawful marketing

Britain's Information Commissioner's Office (ICO) said on Friday it had fined the EU referendum campaign Leave.EU and Brexit supporter Arron Banks's Eldon Insurance 120,000 pounds for serious breaches of electronic marketing laws.
Reuters   |   Fri, 1 Feb 2019 11:43:37

EUR/GBP climbs to 0.8800 neighborhood, 1-1/2 week tops post-UK/Euro-zone macro data

• Brexit UK PMI exerts some fresh pressure on the British Pound. • The common currency gets a minor lift from slightly stronger core inflation figures. The EUR/GBP cross regained traction on Friday and climbed to 1-1/2 week tops, back closer to the 0.8800 handle in the last hour. After ...
FX Street   |   Fri, 1 Feb 2019 11:11:08