BREXIT: AN AGREEMENT WITH THE EU FOR NOTHING?

Editorial In addition to the Rugby World Cup quarter-finals, this Saturday will be marked by the British PMs’ vote on the draft deal that the EU and Boris Johnson have agreed on. Given the demands from Labour on holding a referendum and the DUP’s rejection, it will be particularly difficult for Johnson to obtain an agreement. In the event of failure, he will be forced to request an extension, which according to Jean-Claude Juncker or President Macron would not be accepted. Ahead of the vote by the British MPs, it is possible that Juncker is only making these statements to obtain an agreement. In this case, the EU would accept an extension (probably short) while stating that that it would refuse any renegotiation of the deal it has just accepted. If Juncker is not bluffing, we will therefore end up with the feared No-deal Brexit, an option that the markets are not at all considering at present. Let us keep our fingers crossed.