It is now the situation that the outcome of Brexit is down to the EU.
These are the five options:
&l;strong&g;1. Revoke article 50&l;/strong&g;
This kills Brexit, once revoked it would never be reissued. On the surface at least, the EU can&a;rsquo;t say no to that. This would utterly humiliate the U.K. and remove any leverage on negotiations about the future of the EU, beyond the U.K. being 10% of the population of the EU and a reasonable sized region of Europe.
&l;strong&g;2. A second referendum&l;/strong&g;
This has been voted off the option list by the British parliament but if it was to be revived, the EU would have to agree to an extension and if it didn&a;rsquo;t, a hard Brexit would most likely follow, unless the twice rejected deal was suddenly signed off on. At this point it would be down to the EU whether a second referendum was callable.
&l;strong&g;3. Sign the pre-negotiated EU exit deal
&l;/strong&g;This is a slam dunk but the British representatives, the MPs (members of Parliament) have already turned that down twice. It would be frankly weird if they agreed to it third time around. It&a;rsquo;s not impossible but highly unlikely. This would place the U.K. into a kind of EU limbo. The U.K. would get lots of benefits but would be in many minds half in and half out of the EU and with no voice in future decisions.
The U.K. would be half ruled but unrepresented by the EU. It would leave the U.K. able to detach further or move closer, but the Remainers hate the option as much as the Brexiters. That joint loathing should be a good pointer that it&a;rsquo;s the right deal, but Parliament isn&a;rsquo;t having it and are unlikely to change their tune.
&l;strong&g;4. A hard Brexit&l;/strong&g;
The U.K. would be like any other country outside of the U.K. block but so much of the U.K. economy is hardwired to be inside that the trauma of a breach is too much for most to countenance. The Remainers don&a;rsquo;t want any Brexit, let alone a violent rupture, and even many Brexiters don&a;rsquo;t want to end up in the cold outside the high wall of the richest economic zone in the global economy. However, many voters don&a;rsquo;t care what kind of Brexit they get, they just want out, but the key thing is, Europe can inflict this on the U.K. unless article 50 is revoked. Without revoking article 50, the U.K. can fall out of the EU and at the moment it has till April 12 to do just that if it can&s;t sign off on the current deal.
&l;strong&g;5. Parliament build a deal they can sign up for and present it to the EU&l;/strong&g;
Would the EU play ball? Very probably not. You can bet that all parties since the beginning of the process, including David Cameron&a;rsquo;s failed attempt to do a better deal with the EU for staying in the U.K., have tried all possible angles. The EU have simply said, &a;ldquo;no.&a;rdquo; The EU have made it crystal clear the current unpalatable deal won&a;rsquo;t be reopened. Unless the proposed deal was worse for the U.K., it&a;rsquo;s hard to imagine them agreeing a different one now. The EU has stated it has finished preparation for a hard Brexit; that implies they consider that a bigger probability than the U.K. does, but no one in the U.K. appears to be listening. In many U.K. minds, it is still the case that the continent will be cut off from the U.K., not the other way around.
So the outcome seems to be very likely to be &a;lsquo;Dead Brexit&a;rsquo; or &a;lsquo;Hard Brexit.&a;rsquo; Make no mistake, the vast majority of MPs want a dead Brexit and while they are trying to put the blame anywhere but on themselves of killing Brexit, they may run out of time and end up with a hard Brexit.
A hard Brexit is deemed by the betting markets as very unlikely, but sometimes it&a;rsquo;s the worse outcome that is the most likely, simply because the situation is so toxic.
A toxic outcome is possible for these 5 reasons:
&l;/p&g;&l;ol&g;&l;li&g;Nailing the U.K. via a hard Brexit will send a message to all the populations of the fiddly little awkward countries in the EU that leaving the EU would be economic suicide, and demonstrate to their politicians that the process is political suicide. The latter is already clear, the former is yet to be underlined.&l;/li&g;
&l;li&g;The U.K. politicians will find it easy to blame other politicians for the hard Brexit outcome and will be able to blame the EU for being beastly.&l;/li&g;
&l;li&g;Without the U.K. in the EU, Europe will be able to move ahead towards super-state status, the logical destiny of Europe, which the U.K. has been sabotaging the whole time.&l;/li&g;
&l;li&g;The EU will take over the U.K.&a;rsquo;s position as Europe&a;rsquo;s financial center and get a boost from all those companies using the U.K. as an English-speaking platform for the EU. That will amount to a significant GDP boost, something needed in most of the EU.&l;/li&g;
&l;li&g;The U.K. has demonstrably 50% of its people against being in the EU, not a recipe for harmony as the EU continues to develop into a closer political and economic block.&l;/li&g;
&l;/ol&g;
It&a;rsquo;s easy to say anything could happen and it really could but Brexit or No-Exit are going to be the high probability outcomes and they will be on the EU&a;rsquo;s terms not the U.K.&a;rsquo;s.
The EU is likely to prove that like Hotel California, once you enter you can never leave. Even if the U.K. does, then it will be the only country that ever will and it will pay for its independence with a long period of hard times.
It is no wonder so many British people want to remain under the umbrella of the EU, when their local regional government, that of the British parliament in Westminster, is so utterly hopeless and weak.
If the betting is to be believed the U.K. is heading for a soft Brexit but only a bizarre set of turns of events will bring that to pass.
&l;em&g;Clem Chambers is the CEO of private investors web site&l;/em&g;&l;span&g;&l;em&g;&a;nbsp;&l;/em&g;&l;/span&g;&l;a href=&q;http://www.advfn.com/&q; target=&q;_blank&q;&g;&l;em&g;ADVFN.com&l;/em&g;&l;/a&g;&l;em&g; and author of &l;/em&g;&l;a href=&q;http://www.amazon.com/dp/B00R3ABO9G&q; target=&q;_blank&q;&g;Be Rich&l;/a&g;&l;em&g;, &l;/em&g;&l;a href=&q;http://www.amazon.com/dp/B00HCOUWS2&q; target=&q;_blank&q;&g;&l;em&g;The Game in Wall Street&l;/em&g;&l;/a&g;&l;em&g; and&l;/em&g; &l;a href=&q;https://www.amazon.com/dp/B077D9ZZ7P&q; target=&q;_blank&q;&g;&l;em&g;Trading Cryptocurrencies: A Beginner&a;rsquo;s Guide&l;/em&g;&l;/a&g;&l;em&g;.&l;/em&g;
In 2018, Chambers won Journalist of the Year in the Business Market Commentary category in the State Street U.K. Institutional Press Awards.
Read More First Published on Mar 22, 2019 03:08 pm
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To determine the 25 Cars with the highest insurance costs, 24/7 Wall St. reviewed data on insurance claim payments made by insurers by make and model, provided by the Insurance Institute for Highway Safety, a nonprofit research organization funded by auto insurers. The costs include six types of insurance: collision, property damage, comprehensive, personal injury, medical payment, and bodily injury. The model that is most expensive to insure had the highest overall average cost to the insurer per year. These data are for 575 vehicles of 2014-2016 model years sold in the United States. No. 25 is the Kia Forte: Annual average insurance paid: $1,155.82; Annual collision insurance paid: $425.10; Type: Small four-door; Retail price:$16,800. Bruce Benedict, KIAFullscreen
24. Mercedes-Benz C class four-door 2WD:
Annual average insurance paid: $1,157.34;
Annual collision insurance paid: $608.40;
Type: Midsize luxury;
Retail price:$40,250. Mercedes-BenzFullscreen
23. Nissan Versa:
Annual average insurance paid:$1,157.59; Annual collision insurance paid:$444.60
; Type:Small four-door;
Retail price:$12,110. NissanFullscreen
22. Nissan Sentra:
Annual average insurance paid:$1,165.05;
Annual collision insurance paid:$471.90;
Type: Small four-door;
Retail price:$16,990. NissanFullscreen
21. Lexus IS 350 four-door 2WD:
Annual average insurance paid:$1,167.11
; Annual collision insurance paid:$627.90;
Type:Midsize luxury
; Retail price:$38,210. ToyotaFullscreen
20. Audi A4 four-door 2WD:
Annual average insurance paid:$1,169.13;
Annual collision insurance paid:$666.90;
Type:Midsize luxury
; Retail price:$36,000. AUDI AGFullscreen
19. Land Rover Range Rover Sport four-door 4WD:
Annual average insurance paid: $1,173.05;
Annual collision insurance paid: $631.80
; Type: Midsize luxury; SUV
Retail price:$66,750. Land RoverFullscreen
18. Infiniti Q50 four-door 4WD:
Annual average insurance paid:$1,182.32;
Annual collision insurance paid:$612.30;
Type:Midsize luxury;
Retail price:$66,750. InfinitiFullscreen
17. Dodge Dart
: Annual average insurance paid:$1,187.55
; Annual collision insurance paid:$468.00;
Type:Small four-door
; Retail price:$16,995. FCAFullscreen
16. Kia Rio: Annual average insurance paid:$1,191.26;
Annual collision insurance paid:$413.40;
Type:Mini four-door;
Retail price:$13,900. KiaFullscreen
15. Nissan Maxima: Annual average insurance paid:$1,237.68
; Annual collision insurance paid:$596.70;
Type:Midsize four-door;
Retail price:$33,270. NissanFullscreen
14. Scion tC:
Annual average insurance paid:$1,237.74;
Annual collision insurance paid:$518.70;
Type:Small two-door;
Retail price:$19,385. Robert Deutsch, USA TODAYFullscreen
13. Chrysler 200 2WD
: Annual average insurance paid:$1,261.87
; Annual collision insurance paid:$471.90;
Type:Midsize four-door;
Retail price:$22,115. ChryslerFullscreen
12. Scion iA: Annual average insurance paid:$1,274.51;
Annual collision insurance paid:$530.40;
Type:Mini four-door;
Retail price:$15,700. David Dewhurst PhotographyFullscreen
11. Ford Mustang two-door
: Annual average insurance paid:$1,291.53;
Annual collision insurance paid:$686.40
; Type:Midsize sports cars;
Retail price:$25,680. FordFullscreen
10. Lexus GS 350 four-door 2WD
: Annual average insurance paid:$1,295.44;
Annual collision insurance paid:$705.90;
Type:Large luxury
; Retail price:$46,310. LexusFullscreen
9. BMW 4 series two-door 2WD:
Annual average insurance paid:$1,306.51;
Annual collision insurance paid:$659.10;
Type:Midsize luxury;
Retail price:$43,300. TONY DING, APFullscreen
8. Audi A7 four-door 4WD:
Annual average insurance paid:$1,322.51; Annual collision insurance paid:$830.70;
Type:Large luxury
; Retail price:$69,700. AUDI AGFullscreen
7. Dodge Challenger
: Annual average insurance paid:$1,335.79; Annual collision insurance paid:$627.90;
Type:Large two-door
; Retail price:$27,295. ChryslerFullscreen
6. Kia Optima hybrid:
Annual average insurance paid:$1,355.13
; Annual collision insurance paid:$592.80;
Type:Midsize four-door
; Retail price:$25,995. KIAFullscreen
5. Dodge Charger 2WD
: Annual average insurance paid:$1,385.61;
Annual collision insurance paid:$569.40;
Type:Large four-door;
Retail price:$28,995. ChryslerFullscreen
4. Scion FR-S
: Annual average insurance paid:$1,403.67
; Annual collision insurance paid:$752.70;
Type:Small two-door
; Retail price:$25,305. ScionFullscreen
3. Mitsubishi Lancer 2WD:
Annual average insurance paid:$1,458.48;
Annual collision insurance paid:$561.60
; Type:Small four-door
; Retail price:$17,79. MitsubishiFullscreen
2. Mercedes-Benz S class four-door LWB 2WD:
Annual average insurance paid:$1,540.63;
Annual collision insurance paid:$803.40;
Type:Large luxury
; Retail price:$89,900. Mercedes-BenzFullscreen
1. Tesla Model S four-door electric 4WD: Annual average insurance paid: $1,789.48
; Annual collision insurance paid: $1310.40; Type: Large luxury
; Retail price: $74,500. TeslaFullscreenInterested in this topic? You may also want to view these photo galleries:Replay
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25 of 25AutoplayShow ThumbnailsShow CaptionsLast SlideNext SlideData privacy concerns
To determine the 25 Cars with the lowest insurance costs, 24/7 Wall St. reviewed data on insurance claim payments made by insurers by make and model, provided by the Insurance Institute for Highway Safety, a nonprofit research organization funded by auto insurers. The costs include six types of insurance: collision, property damage, comprehensive, personal injury, medical payment, and bodily injury. The model that is most expensive to insure had the highest overall average cost to the insurer per year. These data are for 575 vehicles of 2014-2016 model years sold in the United States. Average annual insurance payments account for both the frequency of accidents, as well as the average payment made, by model. No.25. Toyota Sequoia four-door 4WD: Annual average insurance paid: $719.60; Annual collision insurance paid: $319.80; Type: Large SUV; Retail price: $48,400. Toyota, ToyotaFullscreen
24. Chevrolet Traverse four-door 4WD: Annual average insurance paid: $716.68; Annual collision insurance paid: $284.70; Type: Large SUV; Retail price: $47,500. Jim Frenak-FPI StudiosFullscreen
23. GMC Acadia four-door 2WD: Annual average insurance paid: $712.83; Annual collision insurance paid: $304.20; Type: Large SUV; Retail price: $29,000. Jim Haefner, General Motors, via APFullscreen
22. Ford Edge four-door 2WD: Annual average insurance paid: $693.74; Annual collision insurance paid: $304.20; Type: Midsize SUV; Retail price: $29,315. Mandi Wright, Detroit Free PressFullscreen
21. Ford F-150 SuperCab 4WD: Annual average insurance paid: $690.91; Annual collision insurance paid: $273.00; Type: Large pickup; Retail price: $27,705. Steve Petrovich, Detroit Free PressFullscreen
20. Toyota 4Runner four-door 4WD: Annual average insurance paid: $688.12; Annual collision insurance paid: $292.50; Type: Midsize SUV; Retail price: $34,610. David Dewhurst, ToyotaFullscreen
19. Ford F-250 SuperCab 4WD: Annual average insurance paid: $684.51; Annual collision insurance paid: $249.60; Type: Large pickup; Retail price: $33,150. Ford Motor Co.Fullscreen
18. Subaru XV Crosstrek 4WD with Eyesight: Annual average insurance paid: $680.94; Annual collision insurance paid: $288.60; Type: Small station wagons/minivans; Retail price: $21,595. Frederic J. Brown, AFP/Getty ImagesFullscreen
17. Mini Countryman 4WD: Annual average insurance paid: $680.94; Annual collision insurance paid: $312.00; Type: Small station wagons/minivans; Retail price: $26,600. None, MiniFullscreen
16. Honda Odyssey: Annual average insurance paid: $680.40; Annual collision insurance paid: $296.40; Type: Large station wagons/minivans; Retail price: $29,990. Honda via APFullscreen
15. Honda CR-V four-door 4WD: Annual average insurance paid: $678.46; Annual collision insurance paid: $269.10; Type: Small SUV; Retail price: $24,250. HondaFullscreen
14. Honda Pilot four-door 2WD: Annual average insurance paid: $677.38; Annual collision insurance paid: $284.70; Type: Midsize SUV; Retail price: $30,900. Honda, HondaFullscreen
13. Nissan Leaf electric: Annual average insurance paid: $675.03; Annual collision insurance paid: $319.80; Type: Small four-door; Retail price: $29,990. NissanFullscreen
12. Chevrolet Corvette convertible: Annual average insurance paid: $671.58; Annual collision insurance paid: $417.30; Type: Midsize sports cars; Retail price: $55,495. Alan VanderkaayFullscreen
11. Subaru Legacy 4WD with Eyesight: Annual average insurance paid: $667.79; Annual collision insurance paid: $296.40; Type: Midsize four-door; Retail price:$22,195. Scott Olson, Getty ImagesFullscreen
10. Volvo XC60 four-door 2WD: Annual average insurance paid: $665.28; Annual collision insurance paid: $315.90; Type: Midsize luxury SUV; Retail price: $41,500. Cyril Zingaro, APFullscreen
9. Ford Expedition four-door 2WD: Annual average insurance paid: $660.16; Annual collision insurance paid: $284.70; Type: Large SUV; Retail price: $51,790. Ford Motor Co.Fullscreen
8. Acura MDX four-door 2WD: Annual average insurance paid: $660.06; Annual collision insurance paid: $280.80; Type: Midsize luxury SUV; Retail price: $44,200. AcuraFullscreen
7. Mazda CX-5 four-door 2WD: Annual average insurance paid: $649.78; Annual collision insurance paid: $245.70; Type: Small SUV; Retail price: $24,150. MazdaFullscreen
6. Jeep Wrangler two-door SWB 4WD: Annual average insurance paid: $647.85; Annual collision insurance paid: $206.70; Type: Small SUV; Retail price: $23,995. Fiat Chrysler Automobiles via APFullscreen
5. Subaru Forester four-door 4WD with Eyesight: Annual average insurance paid: $645.85; Annual collision insurance paid: $273.00; Type: Small SUV; Retail price: $22,795. Uncredited, Subaru via APFullscreen
4. GMC Canyon crew cab 4WD: Annual average insurance paid: $633.70; Annual collision insurance paid: $257.40; Type: Small pickup; Retail price: $21,100. Jim Fets, GMCFullscreen
3. Chevrolet Silverado 1500 4WD: Annual average insurance paid: $620.47;; Annual collision insurance paid: $253.50; Type: Large pickup; Retail price: $28,300. GMFulls