{"id":29627,"date":"2019-12-17T18:24:56","date_gmt":"2019-12-17T18:24:56","guid":{"rendered":"https:\/\/www.firdevstalkturkey.com\/?p=29627"},"modified":"2019-12-17T18:24:56","modified_gmt":"2019-12-17T18:24:56","slug":"brexit-and-turkey","status":"publish","type":"post","link":"https:\/\/www.firdevstalkturkey.com\/brexit-and-turkey\/","title":{"rendered":"Brexit and Turkey"},"content":{"rendered":"
<\/p>\n
Emboldened by a comprehensive majority, Prime Minister Boris Johnson is forging ahead with a radical overhaul of the country.<\/p>\n
Addressing his cabinet, Johnson said \u201cYou ain\u2019t seen nothing yet\u201d. We’d better believe him.<\/p>\n
By putting a no-deal Brexit again on the table, he gave a pretty good indication that his comfortable majority is not likely to soften his Brexit stance.<\/p>\n
His spokesman made it clear that they were ruling out an extension to the Brexit transition beyond the end of next year, by introducing a legal provision to make an extension illegal.<\/p>\n
So, the United Kingdom is leaving the single market and customs union, with or without an agreement and the businesses will have to prepare for the new reality.<\/p>\n
The pound\u2019s gains over Euro and Dollar after the Conservative victory on Friday did not last very long.<\/p>\n
The prospect of a hard Brexit caused the British currency to tumble down on Tuesday.<\/p>\n
The UK is leaving the EU on 31 January, with an extremely tight timescale of 11 months to complete complex negotiations over future relationships and trade.<\/p>\n
The EU finds the timetable \u201cunrealistic\u201d. Judging by the market reaction, businesses are not convinced, either.<\/p>\n
It is not only the UK and the EU companies that should start making contingency plans for a likely crash-out, but businesses in Turkey need to prepare, too.<\/p>\n
Britain leaving the EU without a deal will mean Turkey, a member of the customs union, would lose its open access to one of its biggest markets.<\/p>\n