WTO Chief sabre rattling about BREXIT: Trade talks could take years or decades
World Trade Organization speaks up..
The WTO Chief is on the newswires saying that:
- Unilateral Free trade option proposed by some Brexit campaigners unlikely to be politically feasible
- After Brexit, not only Britain but also the EU would need to renegotiate its relationship with the rest of the WTO
- Impossible to tell how long Britains trade talks could take after Brexit. Could be years or decades
I am not sure the details but I cannot see trade agreements would take decades...
MORE: Looking at the story details, the comment are in response to proposal that Britain could scrap ALL import tarriffs to avoid long, messy trade negotiations. He says that would be almost theoretically and probably be not feasible....
It seems that the comments are more theoretical.
The GBPUSD is higher nevertheless and trades above the 100 hour MA (at 1.44858 now) and tests the London session highs.