Parliament crushes PM May’s EU divorce deal, Sterling volatile


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Parliament crushes PM May’s EU divorce deal, Sterling volatile

Later on, Tuesday, the 12th of March, the UK lawmaker had simply whacked the PM May’s European Union Brexit amendment deal, slumping Britain into deeper crisis and forcing the UK House of Common to decide within next two days whether to back a no-deal Brexit, to seek a last-minute evade or a deadline delay which would cost another 40 billion euros.

UK lawmakers scrapped May’s amended Brexit deal in a much heavier political padding this time by 391 votes to 242, as her last-minute talks with EU Commission had botched to bear fruit.

A second Brexit amendment defeat for UK PM Theresa May had pushed the world’s fifth largest economy into daedal distress with no obvious way forward, while a no-deal Brexit, delaying the divorce deal, an extension of Article 50 or a snap election, all on a sudden everything appears to be a possibility.

On Wednesday (March 13th), the UK lawmakers would vote on whether Britain should leave the bloc without a deal, a tempestuous scenario where markets and supply chains would be wandering into the woods after getting dissected permanently from the bloc, and there would be a shortage of critical supplies such as food and medicines.

Some analysts had also suggested that the United Kingdom might need to alter its food habit in a no-deal Brexit scenario. While PM May had suffered another landslide loss on Tuesday (March 12th), the British currency changed little after posting its most volatile day against American dollar since July 2016, with a daily low of $1.3006 and a daily high of $1.3289.