Brexit: Delay to the year end?

The European Council President Donald Tusk has said today that the short extension of the deal would not be enough. He is then favour of  a longer Brexit, maybe up to a year or beyond.

The UK Prime Minister Theresa May has today met several EU leaders. She was in Germany and met the German Chancellor Angela Merkel, which pointed that the extension might be long enough, but also so that the option of leaving earlier is possible if the deal is reached. PM May is having a meeting with French President Emmanuel Macron tonight.

The EU leaders are having their summit tomorrow on Wednesday in Brussels and for example the Belgium has invited the country leaders, which border the North Sea, according to Bloomberg News. The fishering polices and the use of the natural resources in the future if no-deal is agreed means that more work is ahead.

The UK Parliament is also discussing tonight how long the delay would be for Theresa May to put forward. On Monday the Parliament decided that extension is ok. This was backed by the UK Parliament by votes 420-110.

PM Theresa May sent last week a letter to Mr Tusk and asked for the extension until June 30.  The UK is leaving the EU on next Friday the 12th April, if no deal is reached.

The UK Goverment has said that it will continue the talks with Labour Party after the summit on Thursday. The talks were halted because the parties said that there were not enough compromise.

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Brexit: May to continue talks with Labour- stocks mixed

The UK Prime Minister Theresa May said on Sunday evening that the Goverment will continue the talks with the Labour party during this week.  She also commented that compromise is needed on both sides in order to proceed with the talks and Brexit agreement.

During Monday the House of Lords will also discuss about the bill to stop the non-deal spilt with the European Union.

The EU leaders are having their meeting on Wednesday in Brussels and last week PM Theresa May send a letter to Mr Donald Tusk in order to ask for the delay of the Brexit-deal until June 30 if needed.

The stock markets were on mixed on Mondy. In Asia the Hang Seng index in Hong Kong ended up 0,31 % to 30 029 points, but the Nikkei-index ended down 0,21 % to 21 761 points in Japan.

In Europe the early trading was in negative territory while the CAC 40-index was down 0,12 % to 5469 points, the German DAX-index was down 0,29 % to 11 974 points and the London FTSE was down 0,28 % to 6692 points.

The sterling was up 0,17 % to 1,3060 dollars and the euro was up 0,06 % to 1,1223 dollars.

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Brexit: May to request delay until June 30

The UK Prime Minister Theresa May  has requested a delay to the UK’s departure from the bloc until June 30. She has written to European Council President Donald Tusk to ask for the delay.

According to the Prime Minister´s office the discussions with Labour leader Jeremy Corbyn fueled to decision to ask for more delay in the Brexit process.

The European leaders will meet next week Wednesday in Brussels to make decision of the new delay.
The stock markets were mixed today in Europe. In Germany the stock were down by 0,11 % to 11 974 points, but in France the index was up 0,09 % to 4243 points. In London the FTSE index was up 0,03 % to 4047 points.
The UK sterling was up 0,10 % to 1,3090 dollars and euro was up 0,05 % to 1,1227 dollars.
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Brexit: UK Goverment and talks about the steps further

The UK Goverment is now having discussions how to proceed with Brexit, while yesterday evening the UK Parliament rejected all the proposals related to Brexit. The deadline for the UK to leave the EU is the April 12th.

According to Bloomberg News, the ministers are likely to be asked to postpone the date for leaving the block until potentially year-end or beyond in order to allow more time to resolve the deadlock in the Parliament.

Postponing the deadline would also mean that the UK would have to take part in the EU elections in May. There has also been speculation of general elections in a way out of the deadlock.

On the other hand Brexit Secretary Steve Barclay has commented  today that if the Parliament could agree the deal during this week, it could be possible to avoid the extension of the deal and the EU elections.

The UK sterling was down 0,47 % to 1,304 dollars in today´s trading. During one month period, the stocks have gained in major markets: FTSE 100 -index +3,24 %, DAX +0,8 %, CAC40- index +2,70%, S&P 500 -index +,226%, Nasdaq+3,07 % and Dow Jones -index +0,89% in New York.

 

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Brexit: MPs having indicative votes next week in the UK Parliament

The Brexit-deal is accelerating next week in the UK Parliament. The MPs will have several indicative votes related to different Brexit-outcomes or second referendum. This means practically that all outcomes are open in this situation.

The general opinion of the Brexit-deal has gain new levels while millions of British people have signed the pledge against leaving the EU. On Saturday there were also protest marching in London to rise the overall interest of the topic and voting for a second referendum.

According to weekend newspapers there has also an internal discussion of the Prime Minister Theresa May´s role in the Conservative party. This shows the tensions what the Brexit-deal is having also inside the party. The BBC reported on Sunday that Theresa May could gain support for her Brexit deal if she promises to stand down as a prime minister, according to senior party representatives.

On the other hand, the finance minister Philip Hammond commented on Sunday, that Britain must find a way to leave the EU in an orderly fashion rather than trying to oust Prime Minister Theresa May.

And one can say that the MPs are more or less frustrated with the situation. As MP George Freeman tweeted: “…across the country you can see the anger. Everyone feels betrayed. Trust in democracy is collapsing. This cant go on.”

The EU leaders agreed last week that the Brexit-deal can be delayed until at last 12 April. If May´s deal is approved next week in the Parliament, the EU has agreed to extent the Brexit deadline until 22 May.

If the UK Parliament is not backing the Goverment´s deal and no other plan is revealed then the UK is set to leave the EU on the 12th April.

The big question for the next week is, if May´s deal is getting enough votes in the Parliament. The Goverment´s deal has been rejected two times in the Parliament before. On the other hand, the House of the Commons Speaker John Bercow has commented that the May´s deal needs fundamentally new items in order to be voted again in the Parliament.

 

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Brexit: EU offering 2 months delay (corrected)

The EU is offering UK a 2 months delay to the Brexit deal. This would mean that the deadline would be May 22.(*)

The EU leaders were having meeting today and according to news wires, the proposal woud mean that the UK Parliament would have to accept the deal next week. Otherwise there would be no deal, according to France President Emmanuel Macron.

The UK Prime Minister Theresa May is expected to have a press conference in the evening.

*corrected right month, May 22

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