Tuesday, 21 May, 2019


Brexit hangs in balance as parliament to vote on May's tweaked deal

Brexit hangs in balance as parliament to vote on May's tweaked deal Brexit hangs in balance as parliament to vote on May's tweaked deal
Bennie Garza | 14 March, 2019, 15:59

With the approaching deadline intensifying fears that economic and personal turmoil might follow a "no-deal" withdrawal by Britain, Parliament voted 321-278 Wednesday to rule out the possibility.

Brexit forces the issue because once Britain leaves the European Union, the border between Ireland and Northern Ireland will be the sole land border between the EU and the UK.

So without some change to that, she was never going to convince those Tory rebels to vote for her deal, and now with these assurances from the European Union the PM has more of a chance of passing that in around 12 hours time through the House of Commons.

"To win today's vote, May needs to persuade 116 of the 230 MPs who voted against her last time to change their minds - a very tall order".

An opposition Labour Party spokesman said this meant she had "given up any pretence of leading the country". I didn't sleep much last night because of Mrs May, but long enough to be able to dream of Slovakia'.

If MPs vote against extending Article 50, then what happens next is unclear. Does it want to hold a second referendum?

As it stands, MPs are being overwhelmingly guarded about which way they'll vote, even on social media.

When it was her turn, May appealed to Parliament - where her own Conservative Party is bitterly divided.

MPs will vote on the deal at about 7pm.

Sterling was about half a percent weaker at $1.307 after trading in a wide range over the course of the day.

Some British lawmakers warned their Brexit-backing colleagues that rejecting the deal could lead to Britain's departure being postponed indefinitely, because a delay would give momentum to opponents of Brexit.

British members of Parliament voted down Prime Minister Theresa May's Brexit plan Tuesday less than three weeks before Britain is scheduled to formally depart the European Union.

May's conservative party has 314 members, who are deeply divided over May's deal.

If this is not enough to convince eurosceptic British backbenchers to reluctantly back the deal on Tuesday, the margin for pushing Britain's withdrawal back beyond March 29 is limited by the impending European election.

Alan Wager, a Brexit expert at the United Kingdom in a Changing Europe think tank, said the parliament this week could decisively rule out both May's deal and a no-deal departure.

Many "Aussie" traders, meanwhile, will be awaiting the publication of the Westpac consumer confidence for March today, and with any signs of an uptick this could see the AUD/GBP exchange rate rise further.

"There will be no third chance", European Commission President Jean-Claude Juncker said on Monday.

"There will be no further interpretation of the interpretations and no further assurances on the reassurances".

The government had been expected to offer parliament the chance to press for a short extension, but announced on Tuesday night that it would be for parliament to decide on the length of the delay that the government would request.

"That is what Parliament asked us to secure and that is what we have secured".

Brexit will pitch the world's 5th largest economy into the unknown and many fear it will divide the West as it grapples with both the unconventional US presidency of Donald Trump and growing assertiveness from Russian Federation and China.

Top EU officials warned that the defeat had increased the chances of a chaotic "no-deal" British exit, which could mean major disruption for businesses and people in the United Kingdom and numerous 27 remaining EU countries.

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