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12 Mar 2019

International Economy

Fate of Brexit: Will the UK Find Solutions before the Deadline? (Current Issue No.2973)


           After British Prime Minister Theresa May sustained a parliamentary defeat as MPs rejected her Brexit plan on January 15, 2019, the UK parliament is scheduled to vote on her revised withdrawal agreement again on March 12, 2019, being the second meaningful vote on whether to leave the EU without a deal.

               KReseach has assessed that her Brexit plan may be rejected quite overwhelmingly again on March 12. After that, MPs will be offered to vote on two separate votes. One on whether MPs will support a no-deal Brexit on March 13, 2019, though we expect that the parliament may reject the proposal or vote to leave the EU with a deal. If that fails, then MPs will get a vote by March 14 2019 on an extension to Article 50 to delay EU withdrawal for which KResearch expects that the parliament will agree. However, there is a possibility that the issue will not be resolved by the deadline as political groups have different opinions on the Brexit plan and this may lead to the delay of the EU withdrawal, though the EU has ruled out the third round of negotiations. This means that the UK may have to use the initial withdrawal agreement, which may not be the best condition for various political groups. 

International Economy