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Goldman Sachs raises chances of no-deal Brexit
Goldman Sachs lowered its expectations of UK Prime Minister Theresa May's Brexit deal getting ratified, and hiked its estimate of the chances of a "no-deal" exit from the EU.
The changes to the bank's previous predictions came after the EU agreed to grant the UK a short reprieve, until April 12, before Britain could lurch out of the EU if May fails to persuade lawmakers to back her withdrawal treaty.
Goldman Sachs cut the chances of May's deal being ratified to 50% from 60%, and raised the chances of a "no-deal" Brexit to 15% from 5%. Estimate of the probability of Brexit not happening at all remained unchanged, at 35%.
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