What to expect in the week after EU exit vote

It’s not easy to start predicting what’ll happen this week – but here’s what’s in the diary:

German Chancellor Angela Merkel speaks to the media following the United Kingdom's referendum vote to leave the European Union on June 24, 2016 in Berlin, Germany

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German Chancellor Angela Merkel


• A post-Brexit summit kicks of in Berlin with François Hollande, Angela Merkel, Italy’s Matteo Renzi and EU Council president Donald Tusk Expect a statement about how they’re all pulling together to keep the Eu afloat – even though in private differences are likely on how to react to last week’s bombshell.

• At home, expect plenty of furious plotting in both the Conservative and Labour parties over leadership.

• Parliament reconvenes to hear David Cameron address the house for the first time.

• Where are the central bankers amid all this madness? Actually, starting this morning they’re in Sintra in Portugal, attending a three-day central banking symposium organised by the ECB. With Mario Draghi and a whole load of other central bankers attending, expect the whole event to be dominated by Brexit and the attempts to shore up stability in the UK-less EU. The Guardian reports Mark Carney is mulling whether he will stick with his previous plan of attending on Wednesday.

• England play Iceland in the Euro championship. Expect plenty of Brexit jokes if they get knocked out.

• Wimbledon starts. Every defeat of a British player will come with Brexit jokes by commentators.


• Full meeting of the European Council – David Cameron’s first meeting with other EU government heads since the referendum. An “exchange of views” is promised. The refugee crisis is also on the agenda.

• Business secretary Sajid Javid plans a meeting without around two dozen business leaders to assess implications of the vote. He told the BBC the message from him would be “there’s no need to be panicking”.

• Results from Ocado wouldn’t normally be on the radar. But they’ll be scrutinised for any predictions by the company of a consumer slowdown in the UK.

• Gordon Brown, who was drafted into the Remain campaign late in the day to try and shore up support among Labour voters, gives a post-Brexit speech in Edinburgh.


• That EU Council meeting continues. Although officially still a meeting of all national leaders, EU President Tusk has said that a meeting-within-a-meeting will be held without the UK to “start a wider reflection on the future of the Union”.

• At noon David Cameron’s first PMQ since he resigned will be a strange affair.

• Dixons Carphone Warehouse reports full-year results – another one to watch for warnings on consumer sentiment.

• President Obama is meeting the heads of government of Canada and Mexico in Ottawa – expect a statement about Brexit afterwards.


• The final revision of UK first quarter GDP figures are published. Nigel Farage said over the weekend that the UK was heading into a “mild” recession but it was nothing to do with the vote. These figures are likely to finally confirm the chilling effect on activity that the referendum had even though polling was still months away.


• The political infighting will stop, briefly, as the nation remembers the centenary of the Battle of the Somme, a battle in the heart of Europe that took around 310,000 lives.

This article was updated shortly after publication with additional information about the ECB banking forum.

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