Queen is supporting Boris Johnson regarding parliament suspension

Market Trends - 29/08/2019


Boris Johnson, Prime Minister of the United Kingdom has
prepared a plan to suspend parliament. That is a questionable move that
probably will limit parliament's power and the time that they need in order to
propose any new solution before the Brexit deadline. U.K's Prime minister
probably just increased the likelihood of the U.K. withdrawing from the EU with
no agreement.





On Wednesday following the first statement, Boris Johnson
confirmed that the parliament will be suspended after legislators return from
their summer holidays. He said they would return for the Queen’s Address
describing the government’s after-Brexit plans on the 14th of October.





Queen's address will be the restart of the parliament
operation and the October 14 would indicate that the legislative operations
would be limited, reducing the time before the Brexit deadline on 31 of the
same month.





On Wednesday afternoon the Queen accepted Prime Minister's
proposals.





On Tuesday the opposition parties warned that they are
determined to join together to form a law that will prevent Johnson from
enforcing a Brexit without an agreement. The possibility of a departure with no
agreement between EU and U.K has encountered widespread disagreement in the
House of Commons and is viewed as a possibility to harm U.K's economy.





Now Boris Johnson’s movement on Wednesday is marked as an
attempt to stop the creation of this law and try to force a no-deal
Brexit.  However, on Wednesday Johnson
said that legislators will still have sufficient time to discuss Brexit and it
was wrong to think that he was trying to stop parliament from doing their job.





On Wednesday U.K's pound dropped by 1% under the $1.22 key
level but lightly cut losses to exchange 0.6% down at $1.2210.





Now Boris Johnson is trying to strike a new deal with
Brussels before the deadline. However, the U.K and Europe have argued over the
Irish “backstop” problem.


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