Currently, there are no customs or regulatory checks on goods passing between the Republic of Ireland and Northern Ireland, which is part of the U.K. Due to the EU’s single market and customs union arrangements, people, goods and services can easily cross the border, with both nations following a similar set of rules and regulations.
There are, however, fears on all sides that Britain’s departure from the EU could lead to an increase in safety checks, delays and surveillance at the crossing points on the island.
EU leaders have warned that the U.K. has one final opportunity to leave the bloc in an orderly fashion, after agreeing to delay the departure date beyond March 29.
Markets will likely rally if a Brexit deal can pass the British Parliament.
“In the U.K., around three-quarters of earnings come from overseas. So, if sterling goes up, the market will underperform,” Garthwaite said, adding that he is overweight on U.K. equities in dollar terms.
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