Goldman Sachs raises ‘no deal’ Brexit chances as general election looms


People hold placards during the “Stop the coup protest” in Parliament Square in London, Britain. September 2, 2019. REUTERS/Simon Dawson

LONDON (Reuters) – Goldman Sachs has raised its estimate for the likelihood Britain will crash out of the European Union without a deal to 25% from 20% citing the prolonged suspension of Parliament, as lawmakers decide the fate of the government’s Brexit plans.

Goldman said its base case with a 45% probability remained that a close variant of the existing Brexit deal which was rejected three times will pass in the House of Commons. The bank cut the probability of no Brexit to 30% from 35%.

UK lawmakers will decide on Tuesday whether to shunt Britain towards a snap election when they vote on the first stage of their plan to block Prime Minister Boris Johnson from pursuing a no-deal Brexit.

Reporting by Thyagaraju Adinarayan; editing by Josephine Mason

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