Brexit won’t be happening by the end of this week as EU officials gave the U.K. government an extension, but it wasn’t exactly the one they were hoping for. Here’s what’s coming up.
Withdrawal Bill vote (Tentative)
Yep, MPs are still due for another vote on the transition deal, but this time with new conditions.
Part of the extension granted by EU officials was the requirement for U.K. lawmakers to let the Brexit deal pass in order to move the breakup date to May 22.
If MPs still fail to agree on the transition deal, the U.K. is left with no choice but to exit the EU on April 12.
Either way, it’s not looking too good, is it?
The actual date for the Withdrawal Bill vote (which would be the third one so far) has yet to be set as PM May keeps scrambling to rally enough support for the deal in order to avoid a disruptive Brexit. In the second vote, the transition deal was defeated by 230-149.
Calls for a second referendum have gotten stronger as reversing the decision to exit the EU could save the U.K. from the likelihood of leaving the bloc with no deal at all.
There’s also talk of No. 10 being forced to step down by senior Cabinet ministers in exchange for supporting the Withdrawal Bill. In any case, just be on the lookout for major plot twists if you’re trading the pound this week!
Missed last week’s price action? Read GBP’s price recap for March 18 – 22!