Back the Brexit deal or face long delay, May's deputy warns MPs

Nellie Chapman
March 16, 2019

On Wednesday, Britain's House of Commons voted to prevent Britain from leaving the European Union without a deal in any circumstances.

EU Council President Donald Tusk will be in Dublin on Tuesday to meet with Taoiseach Leo Varadkar and it is expected the shape of a potential Brexit extension could be discussed at that meeting.

Seven cabinet ministers - Ms Truss, Brexit Secretary Stephen Barclay, International Trade Secretary Liam Fox, International Development Secretary Penny Mordaunt, Commons leader Andrea Leadsom, Transport Secretary Chris Grayling and Defense Secretary Gavin Williamson - voted against the government motion.

Goldman Sachs (NYSE:) said it sees a 55 percent probability of Prime Minister Theresa May getting a Brexit divorce deal ratified even though parliament overwhelmingly rejected the deal for a second time.

"Although a no-deal exit was voted down, we can not predict what will happen because it depends on how negotiations with the European Union will go, We will have to watch developments closely", Aso said.

But some Labour frontbenchers resigned to defy party orders to abstain on a vote on holding another referendum.

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Any delay will require the agreement of all other 27 European Union members, with talks about possible conditions for an extension to take place before next week's European Union summit, which begins on Thursday.

The motion to extend the UK's exit was put forward to MPs at Westminster yesterday (Thursday) and was passed by 413 votes to 202.

She said Friday's rise was also down to some adjusting of positions, with traders likely reluctant to get caught out should sterling-positive news break over the weekend. He said there were now two options: "To vote for the deal and leave in orderly way or a long delay and I think that would be a disaster".

"Despite the increased risks facing rebel Conservative MPs, we doubt that sufficient numbers will fall back into line to pass her deal given entrenched hard line opposition", MUFG analysts wrote on Friday. But Mrs May's party is still severely split, with more than half voting against the delay.

He said he hoped the United Kingdom would "leave as soon as possible in an orderly fashion" if Parliament backs May's withdrawal agreement next week.

An often chaotic set of votes in parliament this week has shown that none of the alternatives - such as leaving with no deal, a referendum or allowing parliament to decide how to leave - can muster a majority among lawmakers yet.

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