Published: Thu, March 14, 2019
Global News | By Blake Casey

Sterling Tanks on Brexit Legal Advice

Sterling Tanks on Brexit Legal Advice

The legal binder affirms that the European Union could not trap the United Kingdom in the backstop indefinitely, Lidington said.

"If we vote for the improved deal we will both end the current uncertainty and deliver Brexit", he said.

British lawmakers handed Prime Minister Theresa May a second humiliating defeat for her Brexit plan on Tuesday.

According to Cox, the interpretive document offered by the European Union would grant no legally guaranteed right to exit the Irish Backstop in the event of a deal deadlock and triggered some aggressive selling pressure around the British Pound.

"The choice is clear: it is this deal, or Brexit may not happen at all", Juncker said.

Currency expert Stafford-Taylor added: "However, if parliament vote against May's deal there will be a fresh vote to consider tomorrow which could further influence to the pound's movement".

Experts believe the last-minute agreement will have a significant impact on upcoming parliamentary votes.

A leading cabinet source said there was increasing concern about the prospect of a no-deal Brexit by accident - on 29 March or at the end of an extension period - if there was no parliamentary majority for May's agreement because time was running out to pass legislation necessary to block one.

British Prime Minister Theresa May is welcomed by European Commission president Jean-Claude Juncker in Strasbourg, France, on Monday.

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The UK Parliament is scheduled to debate and vote on May's withdrawal agreement Tuesday.

The second new document is branded a "unilateral declaration by the UK" which sets out "the sovereign action the United Kingdom would take to provide assurance that the backstop would only be applied temporarily".

But in the final part of his conclusion, Cox said that legal risks of Britain being stuck in the backstop remained. If it is the case that we were ever to get into the backstop. Today, we have secured those changes. It has the same legal status as the Withdrawal Agreement.

The shadow Brexit secretary, Keir Starmer, immediately cast doubt on whether the changes would actually be legally binding, saying: "It sounds again that nothing has changed".

More than two hours later - at 11:40 p.m. - the tired leaders sat down for a joint news conference to announce changes they both hope will now put an end to the tortuous negotiations that have defined the U.K.'s exit from the 28-country bloc.

In a statement, the European Commission said the member states "have done all that is possible to reach an agreement".

And anti-Brexit campaigners haven't abandoned the idea of a new referendum on remaining in the EU.

"There will be no third chance".

Some British lawmakers had warned their Brexit-backing colleagues that rejecting the deal could lead to Britain's departure being postponed indefinitely, because a delay would give momentum to opponents of withdrawal.

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