World

Brexinct — May-hem(med) in by machinations

January 16, 2019

LONDON — Prime Minister Theresa May, hemmed in by the various machinations that led to the crushing parliamentary loss on Tuesday, on Wednesday was trying to forge consensus in parliament on a Brexit divorce agreement.

The crushing defeat of her own deal left Britain’s exit from the European Union in disarray 10 weeks before it is due to leave.

The day after her parliamentary loss by the worst margin for a British government in modern times, May was widely expected to hold on to power in a confidence vote, having secured the backing of her own party’s rebels and its Northern Irish allies.

The confidence motion, called by opposition Labour Party leader Jeremy Corbyn after lawmakers rejected May’s Brexit deal by 432-202, was scheduled to be held at 1900 GMT.

With the clock ticking down to March 29, the date set in law for Brexit, the United Kingdom is now in the deepest political crisis in half a century as it grapples with how, or even whether, to exit the European project it joined in 1973.

After lawmakers in the 800-year-old parliament dismissed May’s deal, she pledged to speak to senior parliamentarians to find a compromise that would avoid a disorderly no-deal Brexit or another referendum on membership.

“The prime minister, having got through today, assuming that she does, will then be seeking to talk to senior parliamentarians,” House of Commons leader Andrea Leadsom said.

May, an initial opponent of Brexit, will speak to the opposition Labour party, the Northern Irish DUP and her own lawmakers. Labour’s finance minister-in-waiting, John McDonnell, said May could eventually get a deal through parliament if she negotiated a compromise with his party.

Labour says its aim is to win power and negotiate Brexit on better terms. However, many Labour members want to see another referendum with an option to cancel Brexit, and the party says it is ruling out nothing if it fails to bring May down.

Corbyn said May was leading a “zombie government” and that she had not spoken to him since the Brexit vote.

As the politicians discussed Brexit, companies were bracing for the possible chaos of a no-deal Brexit that would see trade with the EU switch to World Trade Organization rules. Many companies say this could disrupt supply chains built to rely on friction-free trade. UBS Wealth Management told investors to limit their exposure to UK assets.

The last time an international treaty was defeated by the British parliament was in 1864, when an extradition treaty with Prussia was voted down, according to the Hansard Society.

Despite the failure of May’s deal, many investors see the prospect of exiting with no deal at all receding as parliament hardens its stance against it.

May says canceling Brexit is likelier than leaving with no deal, but she has repeatedly stressed her determination to leave and described any failure to carry out the mandate of the 2016 referendum as “catastrophic” for democracy. She said a national election would also be a bad idea.

Other members of the EU, which combined has about six times the economic might of the United Kingdom, called for discussion but indicated there was little chance of fundamental change to the deal May had negotiated. Germany’s Foreign Minister Heiko Maas said there was not much time left to find a Brexit solution and that “the time for playing games is now over”.

EU Commission President Jean-Claude Juncker said a disorderly Brexit was more likely while Donald Tusk, the chairman of EU leaders, suggested Britain should now consider reversing Brexit altogether. — Reuters


January 16, 2019
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