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British expats strongly concerned over a Johnson victory
| Published: | 20 Jun at 6 PM |
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British expats are beginning to worry about the possibility of a Johnson victory.
As Britain’s Conservative Party continues to dig its own grave, the fight to be the next Prime Minister is causing expat concern. Should Boris Johnson prove pundits and bookies right, the effect on sterling as well as on the economy may well reverberate in expat havens across the world as well as clobbering the financial world’s stock and commodity markets and causing share prices to plunge.
Financial experts are warning over Johnson’s no-deal position, in which he believes the absence of a new deal acceptable by both sides will cause a no-deal exit simply by default, with UK lawmakers unable to prevent this worst scenario. A few months ago, when the British parliament still had one foot in the real world, the vote against a no-deal option seemed to restore at least a modicum of sanity to the process, but Johnson’s take would indicate the vote simply banned the government from using no deal as a policy rather than stopping it by inaction.
Johnson’s position on no-deal and his intention to take the UK out of the EU on October 31 won’t be the only problem should he become Britain’s next PM. He’s viewed by many in and outside Parliament as inconsistent and untrustworthy, with several British media outlets portraying him as the British version of Donald Trump. Others are suggesting Trump’s seeming admiration of Johnson gives a strong warning of things to come. As for the vast majority of British expats scattered across the world, the main issues are a further worsening of the sterling exchange rate with their local currency and the kind of country they’d find should they be forced to return to the UK for financial reasons.
As Britain’s Conservative Party continues to dig its own grave, the fight to be the next Prime Minister is causing expat concern. Should Boris Johnson prove pundits and bookies right, the effect on sterling as well as on the economy may well reverberate in expat havens across the world as well as clobbering the financial world’s stock and commodity markets and causing share prices to plunge.
Financial experts are warning over Johnson’s no-deal position, in which he believes the absence of a new deal acceptable by both sides will cause a no-deal exit simply by default, with UK lawmakers unable to prevent this worst scenario. A few months ago, when the British parliament still had one foot in the real world, the vote against a no-deal option seemed to restore at least a modicum of sanity to the process, but Johnson’s take would indicate the vote simply banned the government from using no deal as a policy rather than stopping it by inaction.
Johnson’s position on no-deal and his intention to take the UK out of the EU on October 31 won’t be the only problem should he become Britain’s next PM. He’s viewed by many in and outside Parliament as inconsistent and untrustworthy, with several British media outlets portraying him as the British version of Donald Trump. Others are suggesting Trump’s seeming admiration of Johnson gives a strong warning of things to come. As for the vast majority of British expats scattered across the world, the main issues are a further worsening of the sterling exchange rate with their local currency and the kind of country they’d find should they be forced to return to the UK for financial reasons.
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