No-deal Brexit risk next year “uncomfortably high” at 25% – JPMorgan

Puzzle with printed EU and UK flags is seen in this illustration taken November 13, 2019. REUTERS/Dado Ruvic/Illustration

(Reuters) – Investment bank JPMorgan sees an “uncomfortably high” 25% chance that Britain’s Brexit transition period will end in a ‘no-deal’ scenario when the deadline to strike a trade deal with the European Union ends in Dec. 2020.

Prime Minister Boris Johnson has sent sterling tumbling with his plan to cement the 2020 deadline in law, meaning he will have just 11 months to strike a trade deal. That has again raised the risk of exiting the bloc without trading arrangements in place.

“We have put the risk of a “no deal” end to


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