Market focus is firmly on U.K. Prime Minister Boris Johnson's next move.
UK Prime Minister Boris Johnson's office has confirmed the British Parliament will be suspended for the next five weeks starting Monday, after Johnson visited his counterpart in Dublin to discuss solutions to a problem that bedevilled his predecessor Theresa May: how to reconcile an open border between Ireland and the UK, while allowing Britain to strike independent trade deals in the future.
When opposition legislators returned from their summer break last Tuesday, they responded forcefully to this unprecedented suspension plan. A cross-party coalition of Johnson's political opponents moved swiftly to take control of the parliamentary schedule and then passed legislation that seeks to prevent the prime minister from leading the UK out of the European Union without a negotiated exit agreement, and which will be signed into the statute books today.
A vast majority of economists, corporate executives and investors say that such a "no deal" Brexit would negatively impact the UK even more than EU, by disrupting trade flows, business relationships and political trust between the two sides.
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