There is a prevailing fear across the UK that the country may never finalize the Brexit deal with the European Union. The biggest roadblock standing between the two sides appears to be a fully-formed trade agreement. Theresa May did little to temper dread earlier this week when she reportedly began to plan the hiring of a cabinet member assigned to map out the UK’s future without Brexit.
Is May Threatening The EU?
Some experts are viewing the possibility of adding a strategist as a threat to the EU – a move that would suggest the UK plans to vacate with or without a finalized deal. Will the Union call May’s bluff or will this person actually work with the UK to transition into a no-deal territory? This government official will supposedly work alongside Brexit Secretary David Davis. It would simply be a continuation of the political shuffling scene around May. Brandon Lewis was recently named the Conservative Party Chairman and James Brokenshire, Northern Ireland’s Secretary, resigned just days ago.
At the moment, the second phase of Brexit talks is still on hold. The EU is responsible for setting an agenda for the negotiations, while May and company are left to wait for official dates. The obvious next issue to be taken care of is trade – perhaps the most important issue of the entire negotiations. Both sides do want talks to pick up soon with the UK set to leave in the union in March of 2019.
Good News For London
Despite the ongoing political turmoil, Spain’s Alantra Partners SA is considering re-locating its headquarters from Madrid to London. The large banking corporation is essentially placing a bet on the UK city to remain a center of European business. Alantra Partners SA currently controls more than 3 billion euros and a staff of more than 350 employees. The company’s next move will be to decide how many employees will come over to the London headquarters if the move is indeed completed.