EU Summit in the limelight tomorrow – TDS

Strategists at TD Securities have noted the relevance of the upcoming EU Leaders Summit due tomorrow.

Key Quotes

“This week’s summit will see David Cameron as the lame duck PM whose country just thumbed its nose at the rest of the EU; he in fact will be excluded from the second day of the summit as the other 27 leaders discuss the fallout from Brexit”.

“Saturday’s meeting of Foreign Ministers from the original 6 EU members as well as Juncker’s statement from Friday suggested that the EU wants to begin divorce proceedings as soon as possible, while German Chancellor Merkel said that she would not fight for a short timeframe and that the talks “must be conducted properly.”

“The tone from this summit may give us a better idea of just how difficult the UK’s negotiations will be once Article 50 is triggered, and how likely it is that the EU would be willing to grant an extension to the two-year deadline”.