Since joining the European Economic Community in January 1973, which later became the European Union (EU), the UK has had an uneasy relationship with the project.
Its commitment has been tested several times over the years. More recently, the marriage has hit the rocks and may be about to break down completely.
While some believe the UK’s financial contribution to the EU’s budget is a waste of money, others warn that an emerging European superstate, which is both unaccountable and unelected, poses a threat to national sovereignty. To stop the country’s never-ending debate about EU membership, Prime Minister David Cameron has promised to hold a referendum on 23 June 2016.
The conversation surrounding the possibility of the UK leaving the EU is so popular today that it even has its own name — Brexit. If the Scottish independence referendum in September 2014 is any guide, then it is likely to be a closely run contest and forecasts of the result could fall wide of the mark.
In the short term, uncertainty surrounding the decision now presents one of the key risks for the UK economy and financial markets.
As investors, we want to be able to make informed decisions as the situation evolves. To shape our long-term thinking and guide our investment decisions, we have analysed the potential impact of Brexit on the UK economy through a framework of five key myths — wages and employment, trade and industry, financial services, public finances and foreign investment. The key five myths will be covered by us over the next five weeks.
If you would like to receive a copy of the white paper, 'If you leave me now' which explores the implications of Brexit for the UK economy and markets, and/or a copy of "Breaking up is hard to do" which explores the implications for investments and currency for investors, please contact us on +351 289 392 484 or email us at info@privatefund.management.
Look out for next weeks' article on algarvedailynews.com - 'Brexit Myths'...
T: +351 289 392 484 / 289 392 485
Fax: +351 289392483
E: info@privatefund.management
W: www.privatefund.management
Address: Avenida Jose Dos Santos Farias, Loja 1, Lote 83/84, Almancil, 8135-167. Portugal
Private Fund Management would like to thank Rathbones Investment Management of Mayfair, London for their kind permission in allowing the reproduction of this "Brexit" article.
Private Fund Management is an authorised representative of Abana Lda. Abana Lda is authorised and regulated by the Insurance and Pension Funds Supervisory Authority in Portugal (“ASF”) with registration number 412378472 and by the Financial Conduct Authority (“FCA”) number 597069.
