Death knell for British Prime Minister Theresa May's Brexit deal as lawmakers reject it
The British pound, which has been buoyed in recent weeks by hopes that the likelihood of an abrupt ‘no-deal’ Brexit is receding, fell half a percent after May lost, to as low as $1.2977.
It was a third failure for May, who had offered on Wednesday to resign if the deal passed, in a bid to win over eurosceptic rebels in her Conservative Party who support a more decisive break with the EU than the divorce her deal offers. On Monday, lawmakers who have tried to grab control of the process will attempt to agree on an alternative Brexit plan that could command majority cross-party support in parliament, something largely unheard-of in Britain’s political system.
However, any further extension would not only require Britain to take part in European Parliament elections in May, but also bring months of fresh uncertainty.
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