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Transcript

00:00:00
>> Brexit.>> Brexit.>> Brexit.>> Brexit policies.>> A smooth Brexit.>> Du Brexit.>> There it is, that's the Brexit face. What's going on and why do I care?>>
NOISE]>>
That all happened this week and we'll forgive you if you're struggling to listen. So let's cut through the noise.
00:00:18
>> Thank you, Mr. Speaker.>> This is Guy Faulconbridge, one of our Brexit gurus at Reuters. He's very good at explaining.>> So one of the biggest things is that no deal this week really was wacked up big. Because no deal Brexit could mean, according to many, disruption, crashing the housing market, chaos at courts.
00:00:40
And we've been told by the government that actually this could be really, really bad for a whole load of sectors. They've published reams of papers this week about everything from carrying your firearm to Europe, how are you gonna drive in Europe without an EU driving license, an international driving license?
00:00:58
>> Businesses are super worried about a no deal. In fact, this week business leaders said things will be so bad at the Channel that just two minutes added to every vehicle at customs will create a 14 mile gridlock on both sides of the Channel in just one day.
00:01:15
Some companies even have Brexit looking apocalyptic. Cadbury's this week said it started stockpiling chocolate and cookies in the event of a hard Brexit. And Paris warned that Eurostar Trains from London may not be allowed into France. Even more worryingly, Mark Carney, governor of the Bank of England, warned that a no-deal Brexit would lead to a crash in the UK housing market.
00:01:42
Now, all this doomsday hype could suit leader Theresa May very well. The worse a no-deal Brexit looks, the more chance her deal has of succeeding, the so-called Chequers deal. And she needs good news right now because whilst all this has been going on, so has a plot to oust her as Prime Minister.
00:02:01
>> So one of the problems for Theresa May actually comes down to maths in the House of Commons. Does she have enough people to get her deal through? And this week one of the leading rebels in her party said that up to 80, more than 80 lawmakers would vote against her deal.
00:02:18
If 80 lawmakers vote against her deal, she doesn't have a deal. Britain will be leaving without a deal.>> So whether it's May's Brexit, a no deal, or even a second referendum, no one even knows when any of this is going to happen. That is, up until now.
00:02:35
>> So the really big deal this week, and probably the most market moving news, was that Barnier said, and that's the Chief Negotiator for the EU, that a deal could be done in 6 to 8 weeks if unrealistic expectations and demands are taken off the table. What we've got is a sort of timeline, we started to see the outlines of a timeline of how it's gonna develop.
00:02:59
>> If all that works out, it could be all over by Christmas.