A crucial Brexit debate can be underway that will threatens to derail the whole process

Demonstrators holding EU in addition to also also Union flags gather in front of the Houses of Parliament in Parliament Square following an anti Brexit, pro-European Union march in London on March 25, 2017, ahead of the British government's planned triggering of Article 50.

DANIEL LEAL-OLIVAS | AFP | Getty Images

Demonstrators holding EU in addition to also also Union flags gather in front of the Houses of Parliament in Parliament Square following an anti Brexit, pro-European Union march in London on March 25, 2017, ahead of the British government’s planned triggering of Article 50.

although perhaps the most significant amendment to face a vote within the latest Commons reading can be known as the “meaningful vote.” If passed, This specific would likely mean that will a majority of both houses of parliament would likely have future veto power over whatever deal the government can be able to win within the next few months of negotiations with the European team led by Michel Barnier. in addition to also also This specific can be where investors, business, in addition to also also markets more broadly should be paying close attention. As of today, the British parliament does not have This specific veto power. although if the day arises when such a veto can be wielded by a majority in either the Commons or the Lords, in addition to also also if that will happens close to the official Brexit date of March 29, 2019, there remains a rather ominous possibility — one that will has long worried many economists in addition to also also trade specialists.

This specific set of circumstances would likely be one in which the European side refuses to return to the negotiating table for whatever reason, most likely a lack of time, in addition to also also within the absence of a confirmed agreement the United Kingdom can be forced to exit the European Union in a disorderly manner.

This specific so-called “no deal” scenario has not received much serious planning, by the government’s own admission, in addition to also also the mere threat of This specific could add a far greater level of caution into the government’s approach to Brexit, or indeed wreck This specific altogether. Supporters insist This specific amendment can be a crucial test of parliament’s sovereignty, although you can be sure that will government ministers will be tracking the result of This specific vote by vote. Markets participants would likely be wise to do so as well.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

1 × 3 =