Brexit decisions week for Britain…..

• Brexit has already cost the U.K. 2.5% of GDP since the referendum, or about $40 billion per year, according to an estimate from Goldman Sachs, and that’s while the nation was still part of the EU. The cost to the rest of the EU has been significant too, largely driven by uncertainty. While almost no one wants the U.K. to leave the EU, Europe’s willingness to tolerate the deafening chaos from across the channel is shrinking to zero, especially in France.

U.K. Prime Minister Theresa May did give Remainers a glimmer of hope on Friday. Writing an official letter to European Council President Donald Tusk, she for the first time admitted that she was willing and able to hold European Parliament elections on May 23. Her party hates the idea of contesting European elections, but her government is now making all necessary preparations for that vote. May added that she would prefer to leave the EU before that date and cancel the election, but Parliament has repeatedly voted down all her attempts to do so….

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