The Bremoaners have seized on the less than sterling performance of the British pound as proof that the armageddon they predicted is not going to be long in coming. Therefore confusing a weakness in the currency with a weak position on the Brexit chessboard is a mistake for three reasons. (As Ashoka Mody, a former IMF deputy director, points out , a strong pound actually made the British economy more fragile. Since Brexit, every EU leader (e.g., Francois Hollande Jean-Claude Juncker ) has hectored on curtailing single-market access unless the UK does what the EU wants. While UK has substantial challenges ahead, based on the opening game, betting on grandmaster May to win is a smart move.

Source: Mint October 22, 2016 17:48 UTC