EUR/GBP drops to lowest since May 2017 after Brexit votes

PM’s deputy warns of ‘sustained’ uncertainty of long Brexit extension			
				 
   by Metro Reporters 
  Published

PM’s deputy warns of ‘sustained’ uncertainty of long Brexit extension by Metro Reporters Published

"If the House votes to leave without a deal on 29 March, it will be the policy of the Government to implement that decision", she said.

While the motion has no legal force and ultimately does not prevent a no-deal exit, if lawmakers support it as expected then they will get a vote on Thursday on whether to delay Brexit, probably by months.

Deal or no deal?

May said Wednesday's vote will be a "free vote" - one in which members of Parliament are not put under pressure by party leaders to vote a certain way.

After Prime Minister Theresa May lost her second vote on her Withdrawal Agreement Tuesday night, the House of Commons is set to vote today on whether to leave the European Union with a No Deal - a proposition Mr Campbell-Bannerman labelled "absurd", urging instead for a "meaningful vote" on GATT Article 24 "as a safe, alternative Brexit deal that would get Britain out of the European Union with minimal drama" and which "deliver [s] on the result of the referendum".

British MPs will vote Wednesday on whether they want to avert a potentially chaotic "no-deal" exit from the European Union, as business leaders warned the country was "staring down the precipice" after parliament rejected a divorce agreement.

British MPs are filling the Westminster Palace's lobbies ahead of the vote this evening, with which they will either accept a departure without a deal or reject it.

It is also likely to increase pressure on Mrs May, who faced calls from members of her own party to quit or call a general election to break the impasse.

Tabled by the Scottish National Party's Angus MacNeil and backed by europhile MPs including Tory grandee Kenneth Clarke, Labour's Keith Vaz and Plaid Cymru's Westminster leader Liz Saville Roberts, this amendment calls on the Government to halt Brexit by revoking its notice of intention to leave under Article 50 of the European Union treaties.

Pro and anti-Brexit demonstrators start the day outside the Houses of Parliament in central London, January 15, 2019.

"The Prime Minister is threatening us all with the danger of No Deal, knowing full well the damage it will do to the British economy", Mr Corbyn said.

Labour leader Corbyn demands general election after Theresa May’s Brexit defeat

"No deal must be taken off the table".

"Not for us, not for Britain and certainly not for our citizens", he said.

Theresa May warned lawmakers that "Brexit could be lost" if they voted against her Tuesday.

European Commission chief Jean-Claude Juncker on Monday said Brexit "should be complete before the European elections" at the end of May.

"The legal risk remains unchanged", Cox said. May could also move to delay the exit until June if her deal is rejected again.

The changes came in the form of two documents - one allowing Britain to lodge a complaint to an independent arbitrator if it feels it becomes trapped on the backstop issue.

A group of Tory MPs known as the European Research Group (ERG) said in a statement that the revisions didn't address their concerns that the United Kingdom had no way out of the backstop.

Sterling rallied more than half a percent, trading around $1.3150, on growing expectations that lawmakers would vote against no deal. "The government's strategy is now in tatters".

"I am very, very suspicious and concerned about the time scale", Conservative lawmaker Andrew Bridgen said.

"I don't say it's going to happen, but clearly if a government can't get through on the one issue which we were really elected to deal with at the last election it puts us all in a very hard situation".

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