• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Domestic Affairs

Green light given for second Brexit attempt

30th January 2019

Green light given for second Brexit attempt Pin It

Prime Minister Theresa May got green light on Tuesday night to make a new attempt to break open the Brexit agreement. The British pound got a big hit, because it already shows that May in Europe comes home from a cold funfair.

After a series of painful defeats, May finally booked a small win on Tuesday to Brexit. With a modest majority of 16 votes, the House of Commons has supported a proposal that opens the way for it to make alternative arrangements on the Irish border issue. Especially with coalition partner DUP and supporters of a tough Brexit within its Conservative party, there is a lot of resistance against the current solution. In addition, the border of Northern Ireland remains open to traffic of people and goods. A rear net in the Irish Sea then cuts the country in two ways.

The question is whether May should be happy with the victory. She now has to get back to work with European negotiators to adjust the existing agreement. Both Donald Tusk – President of the European Council – and French President Emmanuel Macron have already stressed on Tuesday that Britain must do with the agreement as it stands today. These agreements were completely rejected in the House of Commons two weeks ago: 432 against 202. Tusk added to his refusal to renegotiate that the EU is open to a postponement of Brexit. According to planning, it will take place on 29 March.

However, May does not want to know anything about delays. In this she is partly supported by the House of Commons. In another round of voting, an amendment that gave parliament the opportunity to postpone Brexit was voted out by a small minority (321 against 298). In a way, May still has the free hand to look for a solution. Yet she does feel some pressure from her own parliament. A proposal that calls on the government not to withdraw from the EU without an agreement – the so-called Spelman amendment – was supported by more than half of the parliamentarians.

The big question is whether May is now strong enough to tempt the EU into new negotiations. The foreign exchange market seems to know the answer. The British pound dropped by 1% on Tuesday afternoon and evening compared to the euro as it became clearer that it is not yet a postponement of Brexit. The fact that the currency does not fall into free fall is due to May’s promise that it will not turn its back on Europe without an agreement. However, time is now beginning to penetrate. It is therefore important that they come up with a smarter plan than to knock on a closed door with the EU.

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

The number naturalised Britons…

In Domestic Affairs

The number naturalised Britons dramatically increased

View Post

Next Post

EU feels dumped by May

In Foreign Affairs

EU feels dumped by May

View Post

In Domestic Affairs

Brexit causes a massive HR re-distribution among financial specialists

View Post

In IT, Innovation and Startups

Europeans are concerned about personal data use in GB

View Post

In Foreign Affairs

EU and UK remain committed to resolve the trade issues

View Post

In IT, Innovation and Startups

Jack Ma considers divestment from ANT Group

View Post

Newsletter

Latest News

Boris Johnson

View

Dyson tax case may vacuum out several MPs and PM

22nd April 2021

View

Sleepy Joe turns out to be Speedy Joe, according to Richard Koo

21st April 2021

View

Inflation target still not met

21st April 2021

View

Amazon may become 6th largest supermarket chain

20th April 2021

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com
  • Runch.co.uk

Sign Up for Our Newsletter

Our friendly crew

  • Matthew Patridge, the chief Editor
  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019 Talk Finance - All Rights Reserved. [email protected]