‘Hard Brexit’ On The Way Says UK PM Theresa May

It’s looking like Brexit won’t be a long and drawn out process, as UK Prime Minister Theresa May plans to call for a “Hard Brexit” – freeing the UK to control their own destiny.

Since the EU can’t do anything quickly (remember the Greek debt crisis?), the UK was facing a lengthy wait to fully extract themselves from EU control. Theresa May’s speech is expected to speed that up, as the UK will declare that they are leaving the common-market and EU customs union.

By leaving, the UK will gain control over their ability to sign economic deals with other countries, become independent of the European Criminal Court, and set their own immigration levels.

UK expecting Market Correction after ‘Hard Brexit’ announcement

The pound was down 1.6% hitting a 3 month low vs the US Dollar. That decline will likely deepen, as a market correction is expected after Theresa May’s speech.

There will be a time gap between the UK losing market access to the EU common market and any subsequent trade deal, and this gap will create some economic uncertainty. Business and investors will calculate the risks, as well as the opportunities of more economic independence, and the readjustment will cause some stress in the markets.

Some positive news for the UK economy is the fact that Donald Trump – in an interview with the Sunday Times of London – says he wants to sign a deal with the UK quickly to help “make Brexit great.”

Struggles are worth it for more independence

Leaving a massive bureaucracy like the EU is never without some difficulty – since the bureaucrats don’t want it to be easy – but reclaiming national sovereignty is worth it.

Our world is suffering from the consequences of over-centralization and the concentration of power, and the EU is failing for precisely those reasons.

The more independence countries and individuals have the better, and the UK’s announcement of a ‘Hard Brexit’ is an important step towards a freer world.

Spencer Fernando

Photo – Twitter