A Long Day for Theresa May

The Prime Minister is dealing with Parliament today.

Economic News
09. Apr. 2019

With the revised deadline for the United Kingdom’s exit from the European Union coming up this Friday, today Prime Minister Theresa May has quite a lot on her plate.

The Prime Minister is currently fielding questions at the UK Parliament, as is her custom every Wednesday noon. Members of Parliament decisively rejected the exit deal that May negotiated with the European Union several times, but have failed to support an alternative plan with a majority in their indicative votes, leaving the government to guess what Parliament wants. May’s recent talks with Labour leader Jeremy Corbyn were also not particularly successful, so right now the PM does not have any new proposals to put on the table.

Regardless, this afternoon EU leaders will be gathering in Brussels for an emergency Brexit summit where it will be decided whether to grant another extension to the UK government, so that they can work on a new deal. Theresa May has asked for an extension until June 30, but with so much failure to secure the Parliament’s support in the past couple of months, the EU is very likely to push her to accept Donald Tusk’s “flextension” which might last up to one year, should the PM fail to get a deal through Parliament sooner.

If the United Kingdom does not accept the conditions that the EU sets before them, on Friday the UK will leave the European Union without a deal, which is the legal default of Article 50 as it stands.

Anna Sneider

Economic News

Grim Market Sentiments Today

The week is not starting on the best of terms.

Anna Sneider
07. Apr. 2019

Economic News

Precarious Situations in the European Economy

Disappointing data and political problems are negatively affecting the European economy.

Anna Sneider
04. Apr. 2019

Economic News

Switzerland Prepares for a Tax Referendum

Swiss people will vote again on whether they want to reform their tax system.

Anna Sneider
04. Apr. 2019