CCTV Transcripts

CCTV Script 24/09/18


— This is the script of CNBC's news report for China's CCTV on September 24, 2018, Monday. 

The latest released news from UK Prime Minister's Office denied it is planning for a snap general election though, that does implicate British Prime Minister Theresa May might get out of trap through this kind of extreme gamble. And the dilemma she faced now is from both sides of UK. The last news mentioned Chequers plan is the flashpoint for political turmoil in Britain.

Saying prevents a hard border in north Ireland and allows for goods moving freely. This plan, however, was declined in informal summit held in Austria last week, EU member states accused this plan hurts the integrity of EU single market. 

And in British, the Chequers plan is also under fire because of its over-soft, Minister of Foreign Affairs Boris Johnson and "Brexit" minister David Davis both resign in protest, what even worse is more and more cabinet members said they can't work under Chequers plan, so the current government could face more threats of resignation.

Insiders also revealed that cabinet will hold meeting on 24, which is UK time, Monday, to ask Theresa May make plan B, which is stand-by plan, or part ministers will resign. The Daily Telegraph reported that some ministers will hold a hard stance in the meeting and off attendance if there is no promise for Plan B. So, Monday is going to be a critical day. Meanwhile, some analysts think a snap election is not the first choice for Theresa May administration, but it's also a forced choice. Theresa May could weaken the voice from opposition and gain more home support if she can win the election by Nov. But another possibility is she may resign in summer next year in exchange for cabinet members not trying to remove her from office at the moment. Whatever, what would not be changed is the Brexit's deadline: 29th, March, 2019.

In another word: no matter how British politics change, if British government can't reach a specific agreement with EU, then it will face non-deal Brexit, which means British will become a third-country beyond EU: no specific Brexit protocol, no policy framework for future relationship.

And that brings huge uncertainty to markets.