CFDs are complex instruments. 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. CFDs are complex instruments. 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.

May goes it alone, ending talks with opposition leaders over Brexit

The British prime minister will return to Brussels looking for further concessions to create an alternative plan for Brexit after discussions with oppositions leaders collapse.

Brexit United Kingdom Prime Minister of the United Kingdom Democratic Unionist Party Member of parliament Brussels

Theresa May has put an end to cross-party Brexit talks, after telling her cabinet that she will instead focus on returning to Brussels to secure amendments to her deal with the aim of appeasing rebel Conservative and Democratic Unionist Party (DUP) MPs.

In a conference call with cabinet ministers, the British prime minister said that she will meet with EU officials and try to work out changes to the controversial Irish backstop, despite Brussels remaining adamant that they will not renegotiate.

No-Deal Brexit still on the table

EU officials have said that they will not offer any further concessions until the UK government can provide clarity over what parliament wants, with May returning to Brussels looking to secure a better deal despite not reaching any consensus with opposition leaders after talks broke down.

May has since blamed Labour leader Jeremy Corbyn for the collapse of cross-party talks after he refused to sit down with her until she promised to rule out a no-deal Brexit.

MPs look to delay Brexit

The collapse of cross-party talks is bad news for investors and UK businesses, with many holding out hope that they would lead to a softer Brexit and prevent the country bailing out of the bloc without a deal in place.

As it stands, May risks losing control of the Brexit process altogether, with several long-standing MPs planning to present amendments that could force the prime minister into completely renegotiating Britain’s exit from the EU and delaying the country’s withdrawal well beyond the initial March 29 deadline.

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