Wyn Thomas - Axys Investment Management

Weekly Market Update 21st September 2018

CHEQUERS PLAN REBUFFED IN SALZBURG

This week the background noise of uncertainty over Brexit increased to a deafening roar as Theresa May took her Chequers plan to Salzburg only to
have it dismissed out of hand. While much of the press has been fuming about the way the EU27 have treated the Prime Minister, this outcome should
not have been a surprise. The Chequers plan has all along been less of a workable solution to Brexit and more of a hotchpotch of ideas, intended to
satisfy the demands of the Tory backbenches rather than the EU. While the tone from Barnier and Tusk has been more than a little condescending, that
we still don’t seem to have a clue what we’re doing with just six months to go is utterly ridiculous. Read more…