EU pleads with UK parliament to end Brexit impasse
EU leaders are hoping that British MPs can find a way to break the Brexit stalemate, with the prospect of the UK bailing out of the bloc without a deal looking likely if they don’t.
European leaders are hoping that British MPs can find a way to end the Brexit impasse and accept the May’s deal, with the threat of a no-deal scenario building after EU Commission President Jean-Claude Juncker said that it will not renegotiate the withdrawal agreement.
On Friday, May met with a few EU leaders in Brussels in a bid to garner support for alterations for her deal in a hope to appease disgruntled MPs in the House of Commons, but some European leaders were adamant that the UK prime minister accept the deal she has.
No-deal Brexit on the cards
The Belgian prime minister showed no interest in helping May secure a better Brexit deal, with him saying at the EU Summit that a no-deal scenario is a ‘realistic prospect’.
‘Our country must be prepared for all Brexit scenarios in the interests of our citizens and businesses,’ Michel tweeted. ‘We hope the deal gets green light,’ he added. ‘But we need to be ready.’
However, other EU leaders were a little more optimistic, with the Austrian chancellor Sebastian Kurz saying that behind the scenes European leaders are still happy to discuss alternative scenarios for the UK’s exit from the bloc.
‘We have made clear that the backstop for Northern Ireland will be a provisional not a definitive arrangement,’ Kurz tweeted.
May hopes to rescue Brexit deal
On Thursday, the UK prime minister arrived in Brussels hoping to salvager her Brexit deal, only for EU leaders to accuse her of lacking key selling points that will pacify MPs in parliament.
May had hoped that EU leaders offer her some concessions that would make her Brexit deal more palatable for MPs back home. But her contemporaries in Europe echoed similar sentiments of Juncker who made it clear that ‘there is no room whatsoever for renegotiation’.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
See an opportunity to trade?
Go long or short on more than 17,000 markets with IG.
Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets
- Forex
- Shares
- Indices