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UK lawmakers pass amendment, but time is ticking for Theresa May

  • Regular
  • Economy
  • 8 months ago
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Lawmakers in the U.K. have approved Theresa May’s proposal to re-negotiate the Brexit deal with Brussels, which will more than likely begin within a couple of days.

MP’s agreed on two amendments, firstly the Irish backstop, which would prevent a hard border between the Republic of Ireland and Northern Ireland and is a very sensitive issue to U.K. politicians.revious statements that the deal provided by Brussels was not negotiable

Secondly is an amendment which states that the U.K. will not exit the eurozone without a deal, nevertheless, the exit date would remain unchanged.

That being said, Brussels has already made it clear to the U.K. that the only grounds for re-negotiating would be if Westminster adopts a positive stance in having a future relationship with the E.U.

And criticism has not been short, as many see this as wasted time on the government’s side as the exit date closes in.

"We had this moment of theater again yesterday in the (House of) Commons and it was very entertaining to watch, but not very enlightening at all. We've heard the relatively negative responses out of Brussels they are not going to renegotiate the Withdrawal Agreement and we did not see what exactly the British Parliament really wants."

Commented director of the Ifo Center for International Economics and the Ifo Institute….

"They want a technical solution to make the border in Ireland soft but what this could be is not clear so we're still at a loss. Of course, we need a compromise to make this deal possible and to avoid both sides losing economically … We do not have any further information that could calm our nerves that has come out of the British parliament yesterday."

 

 

Source: Smart Trend Team