MarketWatch: ‘Hard Brexit’ could mean U.K. recession, credit downgrades, S&P warns

Ratings agency Standard & Poor’s warned Tuesday that a so-called hard Brexit could lead the U.K. into a moderate recession and weaken its long-term growth potential, which could then hurt its credit rating.

Although S&P’s base-case is that the U.K. and the European Union will reach a Brexit deal that will be succeeded by a transition phase through 2020 and a free-trade agreement, “we believe the risk of a no-deal has increase sufficiently to become a relevant rating consideration,” said credit analyst Paul Watters, in a news release.

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The Washington Post: Brexit: The next big 5 things to watch

The divorce negotiations may go to the wire.

The negotiations over the British withdrawal from the European Union were supposed to be over by now. But the October European summit came and went without a deal. And a much-hyped challenge to Prime Minister Theresa May’s leadership fizzled out Wednesday, in part thanks to the reaction to the gruesome off-the-record language from critics in her party.

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The Guardian: Post-Brexit rules on UK immigration ‘will damage regional economies’

The north-east of England and the Midlands will be hit hardest by a new immigration system that would see the vast majority of low-skilled EU migrants barred from settling in Britain, new analysis reveals.

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EURACTIV: French businesses prepare for no-deal Brexit

With the fateful date fast approaching, the France’s Ministry of Economy and Finance is encouraging French businesses to prepare for a no-deal Brexit. EURACTIV France reports.

“Whatever happens, there will be changes. We therefore have to prepare for every scenario, including no-deal,” civil servants at the French Ministry of Economy and Finance said prior to a meeting between Minister of State Agnès Pannier-Runacher and business representatives on Tuesday (23 October).

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The Washington Post: Queen Elizabeth breaks silence on Brexit — in a very queen-like way

For the first time since the 2016 Brexit vote, Queen Elizabeth II has spoken out about the contentious issue of Britain’s upcoming exit from the European Union.

But she did it in an uncontentious way. This queen doesn’t do politics. That’s the key to her staying power: She rules by not ruling.

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The Guardian: Philip Hammond can’t announce an end to austerity. Brexit won’t allow it

Despite Theresa May’s eye-catching pledge, the chancellor’s budget will have to factor in Britain’s precarious post-EU future

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The Independent: Hard Brexit ‘could cripple UK science’, warn Nobel laureates

World-leading scientists and mathematicians from across Europe have warned against a hard Brexit if the UK is to preserve its vital research.

In a letter addressed to Theresa May and European Commission president Jean-Claude Juncker, 29 Nobel Prize winning scientists and six winners of the prestigious Fields Medal urged them to pursue the “closest possible cooperation”.

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BBC: Theresa May says 95% of Brexit deal is done

Theresa May has said she is prepared to “explore every possible option” to break the deadlock in Brexit talks.

She told MPs 95% of the terms of exit were agreed but the Irish border was still a “considerable sticking point”.

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The Guardian: Brexit is like a Premier League side wanting to be relegated

This country is obsessed by football. Many of the people who voted to “leave Europe” follow closely the ups and downs of the teams in the Premier League, teams whose stars and managers are often from, well, “Europe”.

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Bloomberg: Vote Again on Brexit

Two years on, voters understand the full consequences of leaving. Give them another chance.

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