Sterling surges as Theresa May secures Brexit assurances, yen dips

Elias Hubbard
March 14, 2019

The advice echoes warnings from three of Britain's most senior experts in European and global lawon behalf of the People's Vote campaign. The first attempt resulted in the worst government defeat in modern British history, and there are just 17 days left before the scheduled Brexit date.

Labour's Yvette Cooper, one of the key players behind parliamentary moves to stop no deal, has said she and a cross-party group of MPs would consider steps to force those indicative votes as an amendment to any motion for an extension to article 50.

But in the final part of his conclusion, Cox said that legal risks of Britain being stuck in the backstop remained.

Theresa May said she had achieved "legally binding" changes to her Brexit deal which addressed the possibility of the temporary divorce arrangement known as the "backstop" becoming permanent if the United Kingdom wished to end it.

"Today marks a momentous day in the Brexit journey to say the least".

May - who will chair a meeting of her cabinet this morning - now faces an anxious wait to see if the new-look deal has won the backing of the DUP and Tory Brexiteer backbenchers. However, the idea that a Labour Brexit is still in play is likely to infuriate those Labour members who think the party's priority should be pushing for a referendum. He also said it was now "time for a general election". However, if they reject the deal, that kickstarts another set of possibilities.

"Now is the time to come together to back this improved Brexit deal and to deliver on the instruction of the British people". If members of Parliament choose to veto a no-deal Brexit, they will then get a vote on whether to delay the U.K.'s departure from the bloc.

If they pass it, that means Britain will leave the European Union under the parameters of that deal on 29 March, as planned.

The timetable for Brexit is now being measured in weeks, not months, and up until this one, little progress had been made on serious, structural changes to Britain's plan to leave the European Union since January, when Parliament voted no on the deal drafted by Prime Minister Theresa May.

PM Theresa May returning to Downing Street after making a statement on Brexit at the European Parliament in Strasbourg.

So what sort of extension would the United Kingdom ask for? But what would be the point? "Let's bring the U.K.'s withdrawal to an orderly end". The outcome of tonight's vote could have a significant impact on what happens to the pound both in the short and long term future.

Other reports by Click Lancashire

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