Brexit is Coming

“Okay, so we’re doing this.”

Illustration: Furfur. Source: Wikimedia.CC-BY-4.0

That’s the last comment someone says just before a dual in the hit Broadway show, “Hamilton.” A fateful action is about to take place, and key players will be hurt. The same can be said about Brexit. Over two years ago a majority of British voters chose to leave the European Union, and a few months later the UK government invoked Article 50 of the EU Treaty. At midnight on March 29, 2019 – just over six months from now – Britain will officially leave the EU.

Now UK and EU negotiators are hammering out the terms. Each side has its non-negotiables. Britain wants to avoid a hard border in Ireland, but also can’t have any kind of division between Northern Ireland and the rest of the UK. EU negotiators also want to have a solid, operational, and legally binding arrangement for the Irish border, but they

need to maintain the integrity of their own single market for goods, services, capital and labor. It’s like Brexit is a divorce agreement, and Ireland is custody for the kids. The arguments are messy, awkward, and technically challenging. And there’s no going back. The clock is ticking.

Photo: Juergen Goetzke. Source: Wiki

Dueling was outlawed in most of the Western world in the 19th century because it was a foolish waste of resources. It’s too bad the same can’t be said about Brexit.

Douglas R. Tengdin, CFA

Charter Trust Company

“The Best Trust Company in New England”

By |2018-09-21T06:01:37+00:00September 21st, 2018|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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