European elections puts Brexit talks on hold

This week, after a delightful break, we get back to Brexiting. True to form, whatever small signs of progress there might have been have evaporated after cross party talks were reported to have ended without progress; it looks likely now that nothing will happen until after the elections.

While the European elections are getting all the attention, the more interesting contest is in the local council elections. While the European elections will be fought between Brexit focused fringe parties, that isn’t indicative of a general election. If the Tories get wiped out in the local elections however, that will likely focus the minds of government MPs. A credible opposition threat might stop the party from fighting with itself and unify around a compromise position.

Elsewhere speculation has begun over who will replace Mark Carney at the Bank of England. The current governor is due to leave Threadneedle Street in 2020 and his replacement will extremely influential given how dominant monetary policy has become in determining economic performance.