European officials said on Tuesday the prospect of Britain leaving the European ...
If May cannot get her deal ratified by parliament then she has a choice between leaving without a deal, trying to trigger an election, or asking the EU for a long delay to negotiate a Brexit agreement with a much closer relationship with the bloc.
“I hope that we can still find a solution. The British parliament has said itself that it doesn’t want a disorderly Brexit,” German Chancellor Angela Merkel said. “There is professional bewilderment that the motherland of common sense is in this place,” one European diplomat said. Villeroy, who is also head of the French central bank, said the ECB stood ready to lend euros to British banks if necessary, and that the Bank of England was prepared to lend sterling.
No-deal means there would be no transition so the exit would be abrupt. Britain is a member of the WTO so tariffs and other terms governing its trade with the EU would be set under WTO rules.With Brexit stalled, parliament has been trying to come up with an alternative but has thus far failed. “This is a last-ditch attempt to prevent our country being exposed to the risks inherent in a no-deal exit,” Conservative lawmaker Oliver Letwin said.But May is boxed in by different factions: half of her lawmakers voted for a no-deal Brexit last week while just 37 voted for the customs union option on Monday and 15 for a confirmatory referendum.
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