More recently, the European Council President Donald Tusk sadly joked that politicians who advocate Brexit without a clear understanding of how to implement it have a "place in hell". Ironically, an emergency EU summit timed a new deadline for the UK to withdraw from the alliance for Halloween. Of course, the new date (October 31) is connected with other circumstances, namely with the upcoming change of management in the EU. On November 1, the new European Commission should begin work and if the United Kingdom is really going to leave the bloc. Then, it is important for Brussels that Foggy Albion could not influence the appointments in the new EC or the future important decisions of the union.
"The current extension is as flexible as I expected, but a bit shorter than I had hoped, but this is still enough to find the best solution. Please do not waste this time, "- said by Tusk at a press conference on the results of the summit, referring to London.
What's next?
Under the terms of the deferment provided, the UK may not wait for it to end and leave the EU earlier if the House of Commons approves the already three times rejected version of the deal with the alliance proposed by the country's Prime Minister Teresa May.
In this case, the withdrawal of the United Kingdom from the bloc will take place on the first day of the month following the date in which the divorce agreement will be ratified.
However, if parliamentarians will not approve the deal in the coming weeks, then the country will have to take part in the elections of the European Parliament, which will be held in late May. Other options are possible, including a new referendum and the abolition of Brexit, which is still counted on by opponents of the release of Foggy Albion from the EU.
Repeat referendum?
Last week, Theresa May reported that if the agreement with the EU again does not pass in the British Parliament, then alternative options for action related to Brexit will be submitted to the House of Commons.
If among these options is a proposal to hold a repeated referendum and it receives a majority of votes, this event will become a reality. May is now strongly opposed to this. In her opinion, the duty of the government and British politicians in general is to fulfill the decision adopted at the 2016 referendum.
Resignation of the Prime Minister?
At the end of March, May promised her party members to resign before May 22 if the House of Commons finally approves the "divorce" agreement.
However, more and more opponents of the Prime Minister within the Conservative Party are openly talking about the need to remove her from office in the near future — perhaps by the end of May — and in the summer to choose a new party leader.
It is possible that she will be replaced by one of the radical Brexit supporters and will bring the matter to a decisive break with the EU with or without an agreement to withdraw from the alliance.
"The days of Theresa May as prime minister will be numbered if she cannot agree with Labor on the issue of a customs union with the EU. For traders who play the sterling pound this is most likely the last hope on the short-term outlook, except that the current rate of the British currency is more fearful of the "hard" Brexit than I think. If interparty negotiations do not lead to anything and it comes to a new referendum, the latter is unlikely to take place sooner than in a few months and this will make the pound vulnerable because of fears that the UK's withdrawal from the EU without a deal remains possible in the long term ",said by hardcore currency strategist at Saxo Bank, John Hardy.
The material has been provided by InstaForex Company - www.instaforex.com
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