Yesterday took place the official part of the divorce proceedings of the UK and the European Union. Donald Tusk got a letter in which the United Kingdom is notifies about the launch article 50 of the Treaty of Lisbon. At the same time, Teresa May officially announced to the parliament on the launch of the country’s separation from the European Union.
And now the markets are waiting for protracted negotiations and possible litigation between the EU and Albion, because the participants of the process do not agree with each other’s requirements. All economic ties will not be destroyed. The EU is the largest Britain trading partner, the loss of which will lead to catastrophic consequences. But there is a high probability of partial restrictions and changes in the conditions of the relationship, which will depend on the conclusion from new agreements.
Therefore, market participants will follow what scenario the island kingdom will say goodbye to the continent. If the exit is hard, the British economy will have a lot of problems and the pound sterling may form new minimums in the price charts. It remains a hope that the process will be long, and this allow will make it gradual and soft for both parties, and the business will have time to adapt to the new working conditions.