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Brexit uncertainties and impact on global economy Updated: 2019-09-10 17:01:52 KST

Now Dr. Shin Sang-hyup, Professor of Pan-Pacific International Studies at Kyung Hee University now joins me to go in-depth on this issue.


1. PM Boris Johnson is pushing for a Brexit, with or without an agreement saying he'd rather be 'dead in a ditch' than delay Brexit. He's also arguing that the 'backstop' included in the withdrawal agreement must be amended. Could you first tell us the key points of the Brexit withdrawal agreement?

2. A bill has been passed to block a 'no-deal' Brexit, and upon the Queen's approval to the legislation it has become a law. So it now means it would be illegal for the U.K. to leave the EU without a Brexit deal. Could you tell us more about this law?

3. Johnson's second call for a snap election has been rejected. What are the remaining options for Johnson?

4. The complications surrounding Brexit have been going on for three years now. Although a law has been enforced to block a 'no-deal' Brexit, what are some of the variables that we need to look out for?

5. With the suspension of the British Parliament, global markets have taken respite from Brexit uncertainties for now but we can't completely rule out the possibility of the U.K. forging ahead with 'no-deal' Brexit. Impact on the Korean economy? and global?

6. The European Central Bank's policy meeting is set for this Thursday. How would the current Brexit situation affect its stimulus measures?

7. The U.S. Federal Reserve will also hold its Federal Open Market committee meeting next week and a rate cut is largely expected. Your thoughts?

8. How would the ECB and the U.S. Fed's decisions affect South Korea' monetary policies?
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