Investors wary of stormy political and economic UK weather to come

ACROSS Europe, Parliaments are in recess. But UK Prime Minister Theresa May cut short her annual Alpine walking holiday last week to meet with French President Emmanuel Macron, and also despatched her new Foreign Secretary Jeremy Hunt and other Cabinet ministers across the continent.

In what were seen as signs of desperation over the Brexit crisis at home, the strategy is aimed at persuading the European Union leaders over coming weeks to instruct Brussels negotiators to compromise. For the sake of both the EU and UK economies, Mrs May hopes that all 27 EU leaders will mostly accept her latest Brexit proposals.

The basis of Mrs May's proposed deal - which has first to be accepted in the UK Parliament - includes a UK-EU free trade area with a common rulebook for industrial goods and agricultural products; a customs model with freedom to strike new trade deals around the world; no "hard border" between Ireland and Northern Ireland; an end to the jurisdiction of the European Court of Justice in the UK; and ending free movement and taking back control of UK's borders. The City of London and other financial services would have common regulations with the EU.