Economic Outlook: Brexit Brief: U.K. Prime Minister makes last-ditch pleas to save EU deal

The British Prime Minister Theresa May will on Monday make a last-ditch effort to convince U.K. politicians to back the divisive Brexit deal she secured last year.

May will use a speech to warn parliamentarians that voting against her deal could ultimately stop the U.K. from leaving the European Union. She will also tell pro-European politicians that their efforts to thwart her deal do “catastrophic harm” to the British public’s faith in democracy.

It is widely expected that May will see her deal rejected in Tuesday’s landmark parliamentary vote, as politicians on both sides of the Brexit debate continue to oppose to its central tenets.

Pro-EU politicians are, meanwhile, reported to be preparing to take over the Brexit process in the event the deal is voted down, paving the way for a less complete exit from the bloc — or for Brexit to be halted altogether.

Sterling dropped from $1.28519 at 07:10 GMT to trade at $1.28248 at around 8.20am U.K. time, amid the continuing uncertainty.

Elsewhere, Financial News reports that London’s 10 biggest investment banks have spent more than £1bn preparing for the UK’s impending departure from the EU, sparking anger among City executives about the vast expense Brexit is causing business.

Want news about Europe delivered to your inbox? Subscribe to MarketWatch’s free Europe Daily newsletter. Sign up here.

Filed in: Top News Tags: 

You might like:

How the $700 million Equifax settlement could leave you high and dry How the $700 million Equifax settlement could leave you high and dry
Economic Report: Existing-home sales dip 1.7%, housing market struggles despite cheaper mortgages Economic Report: Existing-home sales dip 1.7%, housing market struggles despite cheaper mortgages
Market Snapshot: Stocks mostly higher as earnings season ramps up; Coke shares prop up the Dow Market Snapshot: Stocks mostly higher as earnings season ramps up; Coke shares prop up the Dow
Futures Movers: Oil falls as Middle East news flow calms ahead of data expected to show a fall in U.S. crude supplies Futures Movers: Oil falls as Middle East news flow calms ahead of data expected to show a fall in U.S. crude supplies
Key Words: Two Louisiana officers fired over post suggesting Ocasio-Cortez should be shot Key Words: Two Louisiana officers fired over post suggesting Ocasio-Cortez should be shot
Coca-Cola earnings get a jolt from ready-to-drink Costa Coffee Coca-Cola earnings get a jolt from ready-to-drink Costa Coffee
Project Syndicate: Politics is making Fed policy incoherent Project Syndicate: Politics is making Fed policy incoherent
After the Equifax breach settlement, brace yourself for what could replace Social Security numbers After the Equifax breach settlement, brace yourself for what could replace Social Security numbers

Leave a Reply

Submit Comment
© 2019 Stock Investors News. All rights reserved. XHTML / CSS Valid.