Markets Awake to Brexit Risk as EU Reform Talks Advance

Uncertainties surrounding referendum aren't priced in.
Photographer: Krisztian Bocsi/Bloomberg

Progress in U.K. Prime Minister David Cameron’s talks with EU leaders suggests a deal on the U.K. government’s reform demands is possible at this month’s summit in Brussels on Feb. 18 and 19, increasing the chance of a referendum on Britain’s membership in the union before the end of June.

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