Brexit: UK Parliament 5 weeks break

The UK Parliament has started its five weeks break during this week. The MPs are getting back on the 14th October, while the Halloween deadline for Brexit is scheduled for the 31st of October.

The parties will be having their annual conferences during this time and also preparing for the possibility of general elections. The Prime Minister Boris Johnson has said that he will not delay the Brexit and his ambition is to get a new deal with the EU, with the new EU leaders.

On the other hand, if there is no new deal at the end of October, the 19th, the Prime Minister has to extend the deadline to the end of January 2020 and resign. And this would mean new elections or new referendum.

The Labour leader Jeremy Corbyn and other opposition parties have agreed not to back the PM´s demand for a general election before the EU-summit. The EU Summit will take place on the 17-18th October in Brussels.

 

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Brexit: Cross-party talks ended

The UK Labour Party announced on Friday that the talks with the UK Government over Brexit have ended. According to information from Mr Jeremy Corbyn “the talks have now gone as far as they can” and that the Party did not see that the compromise would have reached from both sides.

The pound slipped after the news and was trading as low as 1,275 dollars and 1,142 against euros. One of the reason for the announcement was also the speculation of the possible successor to Prime Minister Theresa May during the summer time. According to Labour Party, the increasing concern than any deal would have had risks to be accepted by the possible successor to Prime Minister.

The London Stock Exchange closed down for the week, losing 0,07 % to 7348 points. Other European markets were trading also down, DAX index down 0,58% to 12238 points and CAC40 down 0,18 % to 5438 points.

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Brexit-deal back in the Parliament in June?

Brexit-deal may be back in the Parliament in early June. According to Bloomberg News, the UK Prime Minister Theresa May may be delivering the deal again in the House of Commons in June with the help of Labour Party  Jeremy Corbyn.

The cross-party talks have been continued also today evening in London and it is agreed that the Prime Minister will put the Withdrawal Agreement Bill (WAB) to Parliament before the long summer brake.

 

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Brexit: Goverment talks for the day over – sterling down

The UK Goverment and Labout party Brexit-talks have ended for this day without progress. According to several media sources, the Labour party says that the Goverment was not willing to offer real change or compromise.

According to Goverment spokesperson, there is no date set for Brexit alternatives to be put to the Parliament or the deadline for the Labour talks to conclude.

The Irish Prime Minister Leo Varadkar said today that a longer Brexit delay might make more sense than series of short term extensions, according to Bloomberg News.

The EU Council President Donald Tusk has been offering a longer term delay to the Brexit negotations for a longer time. The EU leaders will be discussing the delay request  of the Prime Minister  on Wednesday next week in Brussels.

The UK Prime Minister Theresa May wrote today to the EU and asked for a longer delay until June 30 to solve the Brexit situation, also with an option to leave earlier if possible.

The stock markets were having an upward trend today in Europe and in the US. Dow Jones is not up 0,05 % to 26 397 points, S&P 500 is up 0,25 % to 2886 points and Nasdaq 0,49% to 7930 points.

In Europe the DAX-indec closed up 0,18 % to 12009 points and the France CAC 40-index up 0,23  % to 5476 points. In London the FTSE all share index ended up 0,51 % to 4067 points.

The sterling is down 0,44 % to 1,3019 dollars and the euro is also down 0,04 % to 1,126 dollars.

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Brexit: House of Lords will have their say today

The Brexit deadline is on the next week Friday. The UK Parliament voted on Wednesday that the UK approves the delay law, but it also makes it possible for the Parliament to propose different lenght of the Brexit extension than for example the Goverment has proposed. The meaning of this law was also to prevent the situation with no-deal Brexit.

The law passed the House of Commons with votes 313 – 312 and it is expected that the House of Lords will have their say about the law today.

The UK Prime Minister Theresa May and the Labour party leader Jeremy Corbyn met also yesterday in order to seek more co-operation and integration. According to several media sources, the meeting went well, and was “constructive” but there are still things to do.

According to Bloomberg News, the customs might be the area, where compromises are possible to seek and according to Chancellor of the Exchequer Philip Hammond “some kind of customs arrangements is clearly going to be a part of the future structure.”

The EU leaders summit will be next week Wednesday in Brussels and Prime Minister May would need some kind of  Brexit plan to present in order to get more extension.

According to EU Commission President Jean-Claude Juncker, EU is not giving Brexit extension and he repeated that the UK Parliament must back the exit deal by April 12th in order to get the extension to the May 22th. Otherwise the UK will be forced to longer extension and possible with the EU elections as well.

Yesterday the financial markets closed up in Wall Street. Dow Jones ended up 0,15 % to 26218 points, S&P 500 0,21 % to 2873 points and Nasdaq 0,60 % to 7895 points.

Today the trading has been mixed in the Asian markets. Hang Seng in Hong Kong has been down 0,52 % to 29 831 points, but the Nikkei has been up 0,03 % to 21 719 points. The South Korean Kospi has been up 0,12 % to 2205 points.

The sterling is up 0,11 % to 1,3173 US-dollars and the euro is up 0,08 % to 1,124 dollars.

 

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Brexit: May considering of Brexit delay

The UK Prime Minister Theresa May is thinking of delaying the Brexit day. According to Bloomberg News, the PM is considering the extending of the March 29th and would publish the Cabinet´s conclusions in an announcement on Tuesday.

The information of the possible delay in the Brexit-day came after the Labour leader Jeremy Corbyn decided to support the second referendum.

The UK sterling was trading up at 1.3147 dollars due to the news that there might be more time to cope with the Brexit.

According to Bloomberg, May will have the Cabinet discussion about the Brexit-delaying in the morning at 9.30 UK time in London on Tuesday. And will give the updates to the Parliament during afternoon.

 

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Brexit: UK May wins confidence vote – crosstalks continue

The UK Prime Minister Theresa May´s Goverment wins the confidence vote in the Parliament today.  Numbers 325-306 the Goverment will continue its Brexit-negotiations and reaching some kind of deal with the EU.

Prime Minister Theresa May said after the voting results that she will continue the Brexit-negotiations with all the party leaders, starting tonight. She said that the target is to reach a statement by Monday about the EU deal in the Parliament.

Yesterday evening the Parliament rejected the  Goverment´s Brexit-deal and now the UK does not have any agreement to face the exit timetable March 29th. Many party leaders, including the Labour leader Jeremy Corbyn have stated that no-deal Brexit must be ruled out of the Brexit options.

EU leaders have not yet responded to the voting results but during the day there has been discussions of various options – including the extending the exit-time.

 

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