Swedish strategist: Hard to see the upside of Brexit
As Article 50 triggered the formal exit of the UK from the EU today, there are many questions about how the Swedish economy and businesses will be impacted.
Henrik von Sydow, a strategist at Carnegie Investment Bank, spoke with Radio Sweden about what to look out for today and throughout the Brexit negotiations.
It is important to watch how businesses actually react and act on the information from Brexit negotiations,” he said. “Will they actually change how their business is being done, where it is being done, and do they change their investments?”
In the long term, von Sydow said there is a big concern of a so-called hard-Brexit where the UK leaves the EU without a trade deal in place, which would have a negative impact on Swedish businesses. He said that a silver-lining maybe hard to find.
“It is hard to see upsides in the negotiations, but we also know that this process will have its own dynamic since this has never happened before so we need to follow it closely,” said von Sydow.
British prime minister, Theresa May, who triggered the official Brexit process in a letter to the EU, wrote in an article for newspaper, Dagens Nyheter, that Sweden remained an important trading partner for the UK.