Brexit: "UK heading for the worst possible outcome at the worst possible time", says Crimson Black Capital's Ansal
Ayush Ansal, chief investment officer at the hedge fund, Crimson Black Capital, comments on the prospects of the UK leaving the EU without a deal…
“With a No-Deal departure from the EU now arguably odds-on, the UK is heading for the worst possible outcome at the worst possible time.
“Boris Johnson is increasingly referencing the UK leaving the EU on "Australian terms", and as things stand the UK could indeed start 2021 banished to the Bush.
“Even the positives of mass vaccination and a tantalising end to the pandemic are being drowned out by the prospect of mass disruption to consumers and business caused by No-Deal.
“The UK economy, as seen this week, was flailing even before November’s circuit-breaker lockdowns, and the unrelenting pressure on the Pound says all you need to know about what the markets think.
“Some market watchers are even suggesting the Pound could fall to parity with the Dollar in the event of No-Deal, which would be a symbolic coup de grace for sterling.
“The UK economy is currently set to enter 2021 not just reeling from the impact of Covid-19 but amid the chaos of a No-Deal. The stakes couldn’t be much higher.”