Connect with us

Government

UK to Vote on no-Deal Brexit

Published

on

Brexit referendum slowdown U
  • UK to Vote on no-Deal Brexit

The United Kingdom will on Wednesday vote to decide whether to exit the European Union with or without a deal after rejecting Theresa May’s draft agreement.

MPs had rejected Prime Minister Theresa May’s exit deal on Tuesday despite obtaining last-minute assurance from the European Union. May was defeated with 149 votes.

The Prime Minister, however, warned that: “Voting against leaving without a deal and for an extension does not solve the problems we face.”

“The EU will want to know what use we mean to make of such an extension. This House will have to answer that question,” she said, her voice half-breaking due to a cold.

“Does it wish to revoke Article 50?” she said, referring to the Brexit process. “Does it want to hold a second referendum? Or does it want to leave with a deal but not this deal?”

The House of Commons is expected by most political experts to vote against no-deal Brexit on Wednesday as many fear the economy might nosedive into recession.

Michel Barnier, the EU’s chief Brexit negotiator said Brussels had nothing more to offer and must brace for the possibility of a messy exit.

“The EU has done everything it can to help get the withdrawal agreement over the line,” he tweeted after Tuesday’s result.

“The impasse can only be solved in the #UK. Our ‘no-deal’ preparations are now more important than ever before.”

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Advertisement
Advertisement
Advertisement