EU gives Britain more time to leave

Brexit latest: UK heading for extra time, with a high chance of penalties and sudden death.

Recent paper on impact of Brexit - the consensus view of 12 scenarios is nothing surprising- confirms that it will damage both the UK and the EU - and that the damage will be far worse for the UK than for the rest of the EU (EU-27). #Brexit #Economics #scenario https://lnkd.in/geUThVX

Brexit update: I will post a more detailed blog later, assessing what happens next after the EU summit conclusions on Brexit. As things stand this morning: - The EU has extended article 50 to 12 April; the EU regards the UK as remaining a member of the EU until 12 April. - The EU will extend UK membership of the EU further to 22 May if MPs vote for Theresa May's withdrawal agreement next week (NB no-deal is a possible outcome at the end of that 2 month extension). - UK law currently states that the UK will leave the EU on 29 March. This is expected to be changed by Parliament next week. Some clients are now focusing on 12 April as the new D-day for no-deal Brexit plans. 12 April becomes a good central planning assumption. But the risk averse will also want to maintain plans for no-deal on 29 March for now. The situation remains fluid, so it makes good sense to keep all options under review over the coming days. Leadership teams should consider what makes most sense for their organisation. #brexit #brexitplanning

This weeks revised Brexit timetable courtesy of the BBC. A delay has been offered until May 22nd if the UK approve Mrs May's deal next week. If not, the extension is only until April 12th and they must set out their next steps or leave without a deal... https://lnkd.in/g4sdHb5 #brexit

?Another day in Brexit land! So we have this paradox where the backstop, which was supposed to protect Ireland, is going to lead to a no deal, which will hit Ireland the hardest. After this summit seems to me that it’s either a hard Brexit, or having European elections in June #brexit ?

PSA: Your Brexit update. The EU is now showing the UK three doors: 1) Approve the deal Theresa May negotiated and Brexit is pushed to 22 May, after which you have the agreed upon transition period. (European elections start 23 May.) 2) Refuse the deal and agree on a plan, which should include organizing European elections in May, by April 11. Based on that plan, the UK can then request a longer extension. 3) Exit with no deal on April 12. The British Parliament has been pretty clear it doesn't want no deal and doesn't want May's deal. It also doesn't have a majority for revoking article 50 (aka canceling Brexit) or calling a second referendum. And few want to organize European elections. That leaves what happens next as much a question mark as ever. ????♀? #Brexit #TheLastGlobalist

Can the EU’s Extension Offer Really Break the Brexit Deadlock? After a nail-biting few hours, European Union leaders have agreed to the UK government’s request to delay Brexit, albeit the extension is less than Theresa May had requested. But our Head of European Fixed Income David Zahn believes the decision does little more than reset the clock and he warns there is still a strong chance that the United Kingdom could still crash out without a deal. https://lnkd.in/g2eur-t

Last chance to stop Brexit For too long we have been told that 17m who voted to leave the EU, for all sorts of reasons, represent the will of the people. This petition was launched today and in under 24 hours has almost 2 million signatures. What will happen if it gets close to 17 million, or even more? If this is what you believe, sign it. There are 8 days left. The extension is meaningless because it depends on Parliament backing Mays deal, and we all know what Parliament thinks about it. #brexit #petition

Donald Tusk has (predictably) upped the proverbial ante: An A50 delay is possible, IF the withdrawal agreement passes through Parliament next week. That's a huge if - given the shortage of votes still required to be bridged whilst also navigating the Speaker's "1604 ruling" - meaning a No Deal exit is still firmly on the table (despite already being voted down by MPs last week), or the revocation of A50 which is reiterated as being the "nuclear option". Simultaneously, Stephen Barclay in Parliament confirms the three options; No Brexit, No Deal or May's Deal. The 30th June "extended deadline" is quickly becoming a red herring. #Brexit #UKPolitics #FinancialMarkets

Tusk has raised the stakes but 'worst case' is Corbyn forced to support May's deal If her deal fails EU can offer 2 year extension to help out but EP elections required and no new negotiations unless 'softer' Brexit. No deal will not happen because majority against in Commons. This is grown up politics. This is clever stuff from adult politicos EU leaders know that Commons won't let No Deal happen. Also only way for May's deal is Corbyn support which is possible and livable with Next week is the time to offer longer extension if May fails for a third time. It certainly is getting a bit hairy but 2 year extension is the only way out now supported by Letwin Grieve Greening Cooper Watson Benn plus SNP Lib Dems TIG Plaid and Lucas