Tuesday, 19 Nov 2024

GLOBAL ECONOMY WARNING: Mark Carney says no-deal Brexit ‘top 3 risks’ for world finances

Mr Carney said a no-deal Brexit is one of the International Monetary Fund’s (IMF) top three concerns in Easter meetings this year. Though his comments were strangely contradicted when he added that he did not think it would happen after Bloomberg reported he no longer sees an “alarmingly high” risk of no deal Brexit. Mr Carney told a meeting of the Marshall Forum group in Washington the risk of a no-deal Brexit had been significantly lowered but it remained to be seen how well the extra time was used.

He said: “It provides a window of time for a political process, particularly in the UK, to forge a consensus within the House of Commons around the form of agreement. We will see how that time is used.

“Right up until yesterday it could be argued that the UK had run out of time to forge that consensus. There are cross-party talks to try to find that, and that may take some time.”

His words came after Prime Minister Theresa May agreed a potential six-month delay to leaving the EU yesterday.

The new date is Halloween, though last night French President Emmanuel Macron dug his heels in and demanded the new date be 2020.

But the remaining 27EU nations offered Theresa May a further six months to ratify or alter her withdrawal deal after the Prime Minister asked the bloc for an extension until June 30.

Speaking in the House of Commons, Mrs May told MPs it was their “national duty” to agree to a Brexit deal.

She said: “We need to resolve this. So that we can leave the European Union with a deal as soon as possible.

“So that we can avoid having to hold those European Parliamentary elections. And above all, so that we can fulfil the democratic decision of the referendum, deliver Brexit and move our country forward.

“This is our national duty as elected members of this House – and nothing today is more pressing or more vital.”

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