Eq: Dev ex-US


After nine months of posturing, arguing, deliberating and legal wrangling, the UK officially triggered its exit from the EU today. The legal mechanism for the the UK to leave the EU is called Article 50, and today PM Theresa May officially triggered it by sending a formal letter to the president of the EU notifying of the UK’s intention to leave. The triggering means there is exactly two years until the UK departs the EU, a period which will be full of negotiations between them. The Pound rose on the news.

FINSUM: While there is still some debate over whether Article 50 is revocable, this is pretty final—the UK is leaving the EU.

Source: Independent


Since the presidential election, much of the investing community’s focus has understandably shifted to the US and the growing political risk there. With the very brief exception of the Dutch vote, and a few articles on Brexit, Trump and the Republican party have been the sole focus. This piece tells investors to look out for another looming black swan that may be in the cards—an Italian vote to leave the Eurozone. The rising Five Star party is set for a new presidential election and has its heart set on Italians getting a vote on whether to stay in the Eurozone.

FINSUM: The established powers in Italy seem desperate to not let a referendum on Euro membership happen as there appears to be a lot of resentment of the currency amongst the public.

Source: Wall Street Journal


The battle over Brexit has been brewing for nine months now, and the outcome seems just as unclear as immediately after the vote, as the UK has not struck any deal with the EU and it is even unsure if it wants to. However, one aspect of the vote has now been clarified. Britain will trigger “Article 50”—the legal procedure for leaving the EU—on March 29th. The date came from a spokesman representing PM Theresa May. The official triggering will be followed by two years of negotiations with the EU.

FINSUM: It looks like it is really happening. However, there is a still a battle going on over whether it is reversible or not.

Source: Bloomberg

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