Brexit hardliner Boris Johnson will be Britain’s new prime minister, and he wants to lead the country out of the EU – whatever the cost. First, he will try to persuade the EU to resume treaty negotiations. In his view, the negotiated draft treaty is unacceptable to Great Britain. In any case, the draft has no chance of winning a majority in the House of Commons, as Theresa May had to experience bitterly.
But will the EU even agree to new negotiations? It doesn’t look that way. Johnson will certainly try to force the other side to give in with new offers and all kinds of threats. Alone, the chances of success are slim. If he fails, he wants to do the hard Brexite. The crucial question is whether the British Parliament can stop him. It remains to be hoped, but the „hard brexit“ risk has undoubtedly increased with Johnson’s appointment.
The risk of a Brexit accident is currently only one of many risks for the global economy, as the International Monetary Fund pointed out in its new global economic outlook this week. For many investors, the general uncertainty – in addition to the extremely low interest rates – is certainly another reason to look for investments that are as crisis-proof as possible. Gold is probably the most prominent of them. The adjustment of the monetary policy stance in the USA and Europe in recent weeks has also had an impact on the gold market: We have therefore significantly raised our 12-month gold price forecast.