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Free Access(2) - Parliament will likely support a Brexit....>
UK: (2) - Parliament will likely support a Brexit extension. However, this does
not clarify the outlook for Brexit. Even if parliament supports this amendment,
the EU would need to authorise it. Brussels is wary of granting an extension
without a concrete proposal from Westminster on how to break the impasse. An
extension of a few months is unlikely to yield a significant overhaul of the
current Withdrawal Agreement and so would leave the UK in a similar position to
what it is in now. A longer extension, running for several months, or even > 1
year, would be considered by eurosceptics (and many non- eurosceptics) to be an
affront to democracy and would deepen the constitutional crisis.
- What about another election? Opposition Labour Jeremy Corbyn has once again
urged a snap ballot. However, this similarly does not guarantee that a
parliamentary consensus will emerge. The political environment has become highly
fractured, which could again prevent Labour or the Conservatives from securing a
majority. If, for example, similar voting patterns emerged as during the 2017
snap election which resulted in a similar parliamentary composition as there is
now, then there would still be no consensus on Brexit.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.