By: Iselin Brady
Britain’s Prime Minister, Theresa May, is due to offer a revised Brexit deal to Parliament on Monday. The need for a revised deal comes after the deal she negotiated with the European Union was struck down by Britain’s lawmakers. This new deal will have to be written and approved quickly if it is to be complete before March 29th, when the U.K. is scheduled to leave the EU. There are several opinions on what May’s next move should be. Many have suggested the U.K. ask for an extension on when it must depart from the EU. The concern of leaving the EU without any deal in place to lessen the impacts is increasing. Without a deal, significant tariffs could be imposed which would harm Britain’s economy. Some economists have even predicting such events would lead to a recession. While delaying Brexit would be preferable, it would require the approval of the other 27 nations in the EU, which is not guaranteed. Additionally, if May is not able to deliver on Brexit, supporters of the deal would see it as a betrayal, leading to more political unrest. It will be interesting to see if the Prime Minister is able to negotiate another deal and whether or not it will be accepted. Furthermore, the economic impacts that would come as a result of this uncertainty could greatly outweigh the advantages hoped to be gained through Brexit.
https://www.apnews.com/4f16523390014bcc9d4b2d2c045153e1
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