Brexit comes into the limelight again today – Danske Bank

Aila Mihr, analyst at Danske Bank, suggests that the Brexit comes into the limelight again today and yesterday proved to be another hectic day in the UK ahead of today’s important vote.

Key Quotes

“First, PM May did a U-turn and now supports the so-called Brady amendment, which says that the UK can accept the Withdrawal Agreement if the backstop is replaced by ‘alternative agreements’ (without specifying what that may be). It is still unknown whether hard Brexiteers will support it (if not, the amendment will fail) but they will meet an hour before the vote scheduled for 20:00 CET.”

“We do not know the DUP’s position yet. Even if it passes, both the EU and Ireland have refused to reopen the Withdrawal Agreement several times, although it may be easier if they know it has backing from a majority in the UK House of Commons. The Cooper amendment, which we thought would pass with a small majority, is also under pressure, as Conservative MPs are being whipped against voting in favour of it and Labour has not officially said it supports it.”

“There is a risk is that none of the amendments nor May’s statement will pass later tonight, meaning we would remain in uncharted territory.”