Categories: Market Overview

May won’t ask for a long Brexit delay raising the stakes in the game

Prime Minister Theresa May won’t ask the European Union for a “long” delay to the Brexit deadline, her office said, after pro-Brexit ministers objected to being stuck in the bloc for much longer. The move increases the chances that the U.K. could crash out of the bloc at the end of June, and could make for a tense meeting with European leaders on Thursday.

Key Developments:

Cabinet Brexit-backers threaten to resign if extension is so long the U.K. has to take part in European Parliament elections

EU indicates that a long delay is needed if May can’t get her deal through Parliament, and Barnier hints the bloc would like to see a second referendum

EU says that if U.K. hasn’t held European elections by the end of June, it will be ejected from bloc on July 1

Juncker raises prospect of emergency EU summit next week

May will not ask the EU for a long delay to Brexit, a spokesman for the U.K. prime minister’s office said on Wednesday. The prime minister is due to write to the bloc seeking the agreement of all 27 other leaders to delay the U.K.’s departure beyond its scheduled March 29 date. But she “won’t be asking for a long extension” to the deadline, the Downing Street spokesman said.

May Won’t Ask for Long Delay, Raising the Stakes, Bloomberg, Mar 20

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

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