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IPFS News Link • Economy - International

Meanwhile In Brexit... Total Chaos

• https://www.zerohedge.com, By Tyler Durden

Just a few hours after the embattled U.K. prime minister announced to the House of Commons she would "unexpectedly" delay the critical Brexit vote - facing certain and humiliating defeat - and return to Brussels to seek "assurances" from European Union leaders, the fate of any upcoming votes to ratify the deal is now in limbo.

As ITV's Richard Peston reported, "it appears that UK PM May could keep the current talks with EU going well past January 21st "perhaps right up to Brexit day 29 March, and avoid any parliamentary Brexit vote," effectively eliminating a popular vote of disapproval for her process.

That, as Bloomberg notes, raises the prospect that May will be back in Parliament in January with virtually the same deal, relying on tanking markets, a crashing pound and frightening no-deal preparations - including even more doomsday rhetoric from the Bank of England - to convince lawmakers to back her. Sadly for May, the parliamentary arithmetic won't have changed, as only an election can do that. And an election is out of the question as May will almost certainly lose her job, potentially resetting the Brexit process back to square one (or perhaps minus one).

Meanwhile, with the Brexit vote in parliament indefinitely postponed, the UK Parliament will debate the vote delay for three hours on Tuesday according to House of Commons Speaker John Bercow, assuring even more drama and chaos.


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