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CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

End of the line for Theresa May’s Brexit deal as MPs reject it for third time

British lawmakers have rejected the prime minister’s Brexit deal for the third time, leaving the country in limbo on the day it was meant to leave the EU.

Brexit Source: Bloomberg

UK Prime Minister Theresa May’s Brexit deal has failed for the third and likely final time as MPs in parliament voted to reject it by 286 to 344 on Friday.

British lawmakers’ decision to reject the stripped-down version of May’s withdrawal agreement has left the country rudderless on how, when or if Britain will leave the EU, leaving businesses with yet more uncertainty about the UK’s future relationship with Europe.

Brexit no longer guaranteed

May had warned MPs that if they failed to get behind her divorce bill on Friday, then any further delay to the process would likely be a long one that goes well beyond April 12.

“There are those who will say: ‘The House has rejected every option so far, you’ll probably lose so why bother?’ I bother because this is the last opportunity to guarantee Brexit,” May told the House of Commons.

“If we do not vote for this motion today, people will ask: ‘Why did you not vote for Brexit?’”

Next deadline on the horizon

May’s third defeat in the House of Commons means that British lawmakers have just two weeks to convince their counterparts in Brussels that they have an alternative route to break the Brexit deadlock, despite MPs failing to reach consensus on a Plan B in parliament earlier this week.

However, of the many alternative options voted on by MPs in parliament, British lawmakers came close to a majority on two: a second Brexit referendum and for Britain to leave but remain a member of the EU customs union.

But without a clear path ahead, the likelihood of Britain bailing out of the bloc without a deal looks increasingly likely, a move that if allowed to happen would wreak havoc on UK economy and Ireland.


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