Deutsche Bank cuts probability of no-deal Brexit to 35% vs 50%

epa07701620 (FILE) - A man walks past by the British headquarters of the German Deutsche Bank in London, Britain, 30 September 2016 (reissued 07 July 2019). According to reports 07 July 2019, German bank Deutsche Bank in considering to cut up tp 18,000 jobs globally to some 74.000 full-time jobs by 2022. The measure was announced after the supervisory board meeting in Frankfurt. EPA-EFE/FACUNDO ARRIZABALAGA

Reading Time: < 1 minute

Deutsche Bank said on Monday it cut its probability that Britain will crash out of the European Union on Oct. 31 without a deal to 35% from 50% previously after lawmakers passed a law that could force Prime Minister Boris Johnson to delay the process.

“Elections remain our base case, however. For now, all eyes will be on both the upcoming Party conferences and any possible breakthrough in the run-up to next month’s EU summit,” it said in a note.

Johnson has pledged to leave the EU with or without a deal on Oct. 31, even though British lawmakers have passed a law which would force him to request a delay beyond that date if he is unable to reach a deal with the EU.

Via Reuters

%d bloggers like this: