The Brexit blurry negotiations leave the pound in the wind oscillating between rising and retreating

Damascus-Sana

A spiral of political and economic repercussions has been witnessing for many months in the UK due to the exit negotiations from the European Union, led by the pound sterling, which lost a lot of its strength in the markets due to the fluctuations experienced between the high and low and the fog of the British and European scene in general.

The many drawbacks in the Brexit talks were directly reflected in the British pound, which showed a clear impact of its decline in early morning trading by 0.6 percent to $ 2,748 and a decline of 0.5 percent against the euro to 86.81 pence affected by the announcement of the Democratic Party chairman. A unitary in Northern Ireland has said it will not back proposed solutions to Ireland's arrangement and return a few hours later after British Prime Minister Boris Johnson announced a new deal on his country's exit from the European bloc.

Doubts over agreement on Brexit and potentially serious repercussions on the British economy have robbed the pound and made it into a series of fluctuations at a time when experts, according to a report prepared by CNN LONDON (Reuters) - The European bloc has badly damaged the British economy by hitting commercial and industrial investment as expectations grow that Britain is about to enter a major recession.

EU-UK talks have been at a standstill recently because the DUP opposes a customs proposal. One of the main points of contention over Brexit's completion of an agreement is to keep the border between EU member Ireland and Northern Ireland open in the future as negotiators try to reach an agreement satisfactory. All the parties ahead of the summit in Brussels today.

While the Brexit process remains pending, warnings and fears of completing it without agreement are mounting, with implications for the European and British economies. An official document leaked from the British cabinet earlier warned of the spread of chaos after an exit without an agreement and that power structures and government departments had to deal with most of the problems themselves. .

Perhaps the coming hours will be able to predict the fate of Britain and its economy, which stands on the edge of the abyss, swinging between falling alone after the process of departing from the unified bloc or regain its strength, even partially, economic indicators are clearly tending towards worse expectations that the Brexit bill is larger than the British imagined, especially With major companies and financial institutions moving their assets from Britain and leaving hundreds of billions of dollars in the London Financial District.

Bassima Kenoun