Blog

My Deal – No Deal Or Reversal!

• Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
• December 6, 2018
• No Comments

Prime Minister Theresa May has said this morning that British lawmakers faced a choice ahead of a vote on her Brexit deal: approving her deal or facing an exit with no deal or even the reversal of Brexit.

A No Deal would be disastrous for the UK; however, a reversal does not seem such a bad idea.

May said she was speaking to lawmakers about giving parliament a bigger role in whether the Northern Irish backstop arrangement would be triggered, though she gave few details.

May repeatedly sidestepped questions on whether she would delay the Dec. 11 vote but did hint at possible concessions on the Northern Irish backstop.

When asked repeatedly what her “Plan B” would be if her deal was rejected, she did not directly answer the questions.

The EU’s top court will say on Monday whether Britain can unilaterally halt Brexit, potentially offering a boost to those opposed to leaving the European Union on the very eve of a crucial and tumultuous vote in the British parliament.

In a brief statement, the Court of Justice in Luxembourg said the justices would deliver a ruling at 9 a.m. (0800 GMT) on Dec. 10 in a case brought by Scottish politicians who argue Britain can simply withdraw its plan to leave in March, without waiting for the approval of the other member states.