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.

 

Business Finance

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

Business Finance

Brexit: UK to ask deadline extension

Today´s news from the UK Goverment confirm, that the PM Theresa May´s Cabinet is asking the European Union for an extension of the Brexit deadline.  The preliminary timetable was that the UK would leave the EU next week on Friday the 29th March.

Tomorrow  on Thrusday, the European leaders are having a meeting to discuss about the Brexit situation. It is expected that the delay for the Article 50 would be a short one in order to avoid the EU elections.

The stock markets were having a negative sentiment today and for example the German Dax-index was down 0,88 % to 11685 points, the France CAC 40 -index was down 0,09 % to 5420 points. In London the FTSE index was down 0,04 % to 4012 points.

Euro was trading down 0,06 % to 1,134 dollars and the UK sterling was down 0,27 % to 1,323 dollars. The dollar was up 0,17 % to 111,58 yens and euro was up 0,24 % to 0,8577 pounds.

Business Finance

Brexit: Delay and new vote next week in UK

After intense discussions and voting in the UK Parliament today, the MPs decided to delay the Brexit-deal. This means that the delay can be a short or a longer one. The next voting time is planned for the next week.

According to May´s proposal if the MPs agree the Brexit before the March 20th, the request for a delay would be a shorter one. And if it takes more time, the longer the Brexit delay. Any delay in the Brexit-deal need also that all 27 EU memberstates agree it as well.

The UK Parliament also voted 334-85 against the second referendum on EU membership.

Business Finance

Brexit: Third vote of May´s deal is an option – Tusk urges long delay if needed

The Thrusday trading day has been very intense when it comes to Brexit. The UK Cabinet announced during the day that Prime Minister Theresa May´s Brexit-deal might have a third vote next week Thursday if the Cabinet find it wortwhile.

According to the Cabinet, the Prime Minister will ask for short delay for the Brexit, if the deal is approved by March 20. If the deal is not approved by that, it will require longer time.

The EU President of the European Council  Donald Tusk tweeted today, that he will ask the EU leaders to be open for a long extension of the Arcticle 50 and delay of Brexit.

The EU elections at the end of May might have their impact to the timetable. If the delay is a longer one, it would mean that the UK will be participating the elections as well.

The US President Donald Trump said today that he is looking for a large-scale bilateral trade deal with EU after the Brexit time.

The stock markets have been steady with little positive trend in the largest exhanges in Europe. In Frankfurt the DAX was up 0,28 %, in Paris the CAC was up 0,64 % and in London the FTSE was up 0,68 %.

The UK sterling was down 0,52 % to 1,3269 dollars and euro down 0,19 % to 1,130 dollars. The US-dollar was up against Japanese yen with 0,40 % to 111,61 yens and against Canadian dollars by 0,29%.

Business Finance

Brexit: No-deal rejected in the UK Parliament (updated)

IMG_0856The UK Parliament has voted to reject the Cabinet’s no-deal Brexit with votes 321-278.

At the same time the UK sterling has gained 1,3 % and was trading at 1,3249 dollars.

This decision can lead to different outcomes: a delay, the passing of the Cabinet’s Brexit deal anyhow as last minute or another referendum.

The Parliament is voting also on Thursday about the delay. It seems possible that the Cabinet’s timetable leaving on the 29th March is extended if the EU accept the delay.

 

Business Finance

UK Brexit: MPs rejected the Cabinet´s deal (updated)

IMG_0852The UK Parliament has voted about the Cabinet´s Brexit deal. According to the results, the MPs have rejected the Brexit-deal by votes 391-242.

This means that the Parliament will vote on Wednesday again of no-deal Brexit and possible on Thursday for the delaying of the Brexit.

According to Bloomberg News, the City of London´s institutions are calling for urgent timetable with UK and EU.

-MPs must now say “no to no-deal and the UK and EU must urgently return to the negotiating table. We need a rapid agreement on the way forward to protect customers and jobs, said Miles Celic, the CEO of TheCityUK.

 

 

 

 

 

Business Tech