May to Reject Hard Brexit

Over the past couple of weeks British Prime Minister Theresa May has spent all of her time and energy trying to convince the UK Parliament to support her Brexit deal, no matter how flawed, by threatening them that rejecting it would lead to a no-deal Brexit, the worst possible scenario for the economy of the United Kingdom. May also tried to renegotiate some of the most contested points in the deal with the European Union in order to sweeten the bitter pill for British MPs, but the EU has been steady in their view that the agreement signed with May in 2018 is binding and not subject to significant changes. This in turn has led to another stalemate in Brexit, with just a month until the March 29 deadline.

Today Theresa May is expected to officially announce (and take legally binding action) that she will put a hard Brexit off the table. This is due to calls from MPs and ministers for her to do so and to officially make a commitment to not leave the European Union without a deal. After 15 different ministers threatened to resign, May has no choice but to do exactly this.

Formally eliminating a no-deal Brexit scenario could go several ways. Firstly, May will likely postpone Brexit past the March 29 deadline in order to buy more negotiation time. She could then try to persuade the EU to do what they have been refusing to do for months, and if that fails (which is likely) she might have to call another Brexit vote in the United Kingdom.