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Brexit chaos: UK MPs reject Theresa May’s deal AGAIN

Brexit chaos: UK MPs reject Theresa May’s deal AGAIN”

A favourable vote would clear the way for Britain to leave the European Union on March 29 - almost three years after Britain backed withdrawal from the bloc in a referendum.

The House of Commons voted 391-242 against May's European Union withdrawal agreement Tuesday, snubbing changes she secured from the bloc the night before to allay concerns about the deal's Irish border provisions.

The announcement by the Democratic Unionist Party and a group of Ms.

"It's likely the pound will react in light of the aftermath of tonight's vote - but in which way depends on the outcome of the vote". It also increases the likelihood that the United Kingdom will be forced to seek an extension to the deadline, although the European Union would have to agree to any delay.

The main sticking point is the so-called Irish border backstop, an insurance policy aimed at avoiding controls on the border between the British province of Northern Ireland and EU-member Ireland after Brexit.

Top EU officials warned that the defeat had increased the chances of a chaotic "no-deal" British exit, which could mean major disruption for businesses and people in the United Kingdom and numerous 27 remaining EU countries. They wanted a time limit put on the backstop or an amendment that would allow the U.K.to unilaterally revoke it.

May flew to Strasbourg, France, late Monday for talks with European Commission President Jean-Claude Juncker. May rushed back to London early Tuesday morning and implored MPs to back the new agreement.

The vote puts the world's fifth largest economy in uncharted territory with no obvious way forward; exiting the European Union without a deal, delaying the March 29 divorce date, a snap election or even another referendum are all now possible. May had negotiated weren't enough. She offered the House of Commons a chance to try to stop the countdown to a March 29 departure.

The view of the Attorney General is seen as a major blow to any hopes May had of getting sufficient support in Parliament to vote for her withdrawal deal.

The prime minister warned that a long extension would mean Britain would have to take part in the European elections. "In the light of our own legal analysis and others, we do not recommend accepting the government's motion today", said Tory MP Bill Cash, who is an ERG member.

GBP/AUD Outlook: Sterling Could Plummet Further if May's Deal is Rejected "Aussie" traders will be looking ahead to the publication of the Chinese FDI foreign direct investment figures for February tomorrow, and with China being Australia's largest trading partner, any signs of an increase could prove beneficial to the Australian Dollar.

Shadow Brexit secretary Sir Keir Starmer said Mr Cox had confirmed that "no significant changes" had been secured in two months of negotiations and the Government's strategy was "in tatters".

The PM won last-minute tweaks to the Irish backstop plan which she says will stop Britain being tied to the EU. Short of that, there was no way out.

Pro-Brexit UK lawmakers said they would read the fine print and wait for the judgment of Britain's attorney general before deciding how to vote on Tuesday.

If MPs opt for extending article 50 to continue deliberations, it still will not solve the problems May's government is facing.



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