UK: More clarity post PM May’s speech, but challenges remain – Goldman Sachs

Research Team at Goldman Sachs, notes that last week, Prime Minister May confirmed their expectation that the UK will seek to leave the single market, while retaining an open trading relationship with the EU and more broadly.

Key Quotes

“Although some expectations for access to EU markets have been managed down by the UK government (and towards our views), the potential for no eventual agreement, and a ‘hard Brexit’, remains.”

“Some internal tensions in the UK’s opening negotiating stance contribute to that risk, even if areas for compromise exist and will be explored further in the negotiations that follow the triggering of Article 50.”