At a fund manager presentation in the City I heard many views which weren’t really views: ‘Of course, but then, and it may well be the case that, but markets may have already discounted that…’ En route home, I went for a swim and heard rather more definite opinions from Loud-Men-in-Locker-Room: ‘That John Major should be arrested, he started it all, signing up for Maastricht when no-one wanted it’. And: ‘Those big companies that are moving out, right, to save a few bob because of Brexit, we should stop them from trading here again, that would soon sort it out’. It certainly would; and that’s what we’re up against.
“A ‘no-deal’ Brexit will be devastating”
I quoted Overheard Bloke in the Gym Changing Room not long after the referendum: ‘We should say ‘You’ve had your last cheque, Merkel’, close the borders, job done!’ If we’d followed his sage advice rather than fannying around for four years, we’d have been through the...