Introduction to European Fundamentals | Episode 12: The UK Government Rejects Extension of the Transition Period [Miko Matsuzaki]
Miko Matsuzaki Profile
Matsuzaki Yoshiko. Began her trading career at Sumitomo Bank Tokyo Branch. In 1988 she moved to England, and in 1989 she joined the London Head Office Dealing Room of Barclays Bank. She gave birth in 1991. In 1997 she changed jobs to Merrill Lynch Investment Bank in London’s City. She left in 2000. Now, in addition to FX trading, she disseminates Europe-direct information to Japanese individual investors through blogs, seminars, and YouTube. Her books include “Miko Matsuzaki's London FX” and “Always-Profitable London FX” (both published by Jiyu Kokumin Sha). Since 2018 she has run “Fundamentals College.” She also started an online salon on DMM called “FX Style.”
Blog:http://londonfx.blog102.fc2.com/
Fundamentals College:https://fundamentals-college.com/
Online Salon:https://lounge.dmm.com/detail/1215/
*This article is a reprint/edit of FX攻略.com September 2020 issue. The market information written in the text may differ from current market conditions, so please be cautious.
Pay Attention to Key Figures’ Brexit-Related Remarks!
This time, I would like to write about the United Kingdom’s transition period whose deadline approaches at year-end.
On June 12, 2020, a Joint Committee for Brexit was held. It is reported that from the EU, Vice-President for the European Commission Schäuble? (Note: The original shows シェフチョビッチ which may be a transliteration of Schaeff? likely Chief Negotiator Barnier) and Chief Negotiator Barnier attended, and from the UK, Minister for the Cabinet Office David Frost (Gove in original) attended. The deadline for extending the transition period was approaching at the end of June, but the Joint Committee is the body that accepts extension requests, and practically it seems they were required to submit an extension request at the June 12 meeting.
After the meeting, Vice-President Schäff? said, “We confirmed the UK’s position on extending the negotiation period. The EU will respond flexibly to an extension, but the UK’s decision was treated as decisive. Both the EU and UK agreed to work together quickly from here.”
Around the same time, UK Minister for the Cabinet Office, on his own Twitter, made the following statement (Image ①): “The UK will not wait for the end of June, and will publicly state that it will not extend the transition period. From January 1, 2021, the UK will gain political and economic independence and will take back sovereign power into its own hands.”
