Wednesday, July 13, 2016

Brexit V: May says the right things

.... but does something strange, appointing Boris Johnson as her Foreign Minister. His history of confabulation, ducking responsibility, and attention seeking does not augur well for his skills as negotiator. So why did May appoint him? Cynic that I am, I suspect continuing internecine war within the Conservative Party. the nest few eeks should be interesting.
     The initial financial shocks have subsided. If the UK can demonstrate something like political stability, its economic decline may turn out to be less serious tan the first panicky reactions to Brexit suggested. We'll see. As with weather, economic forecasts need updating at regular intervals. My bet right now is that the slide of the pound will slow down, with an occasional uptick, but by this time next year it will at par with the dollar.

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