DEUTSCHE BANK: There will be a second referendum - just not the one you expect
But Deutsche Bank thinks it's more likely we'll see another vote on the final deal to leave.
The bank says in a note last week that it is "likely that the British public will be offered a vote on the final [EU] exit deal, whenever that is finally agreed."
Deutsche Bank says that given the leave campaign was fought on terms of sovereignty, the British people will likely want a say on the final deal.
Deutsche Bank expects a deal to be finalised sometime in 2019. But the bank wryly notes: "One thing we can be confident about - even more so than with economic forecasts - is that political uncertainty will almost surely require a regular re-write of our expectations for the above timeline."
Britain surprised the world by voting to leave the European Union last month but what that looks like is unclear. It has become apparent that no one on the Leave side had a concrete plan for withdrawal and there is no precedent for a country leaving the 28-country bloc.
The investment bank expects a Canadian-style trade deal that gives the UK limited access to European single market but does not include freedom of movement or contributions to EU financing. It says: "Only the very major issues are settled at this stage, with many more years of bargaining required to complete the deal."
Here's what that would look like:
Deutsche Bank
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- SC refuses to plea seeking postponement of CA exams scheduled in May
- 10 exciting weekend getaways from Delhi within 300 km in 2024
- Foreign tourist arrivals in India will cross pre-pandemic level in 2024
- Upcoming smartphones launching in India in May 2024
- Markets rebound in early trade amid global rally, buying in ICICI Bank and Reliance
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market