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Theresa May steers UK towards hardest BREXIT or nullification of referendum (Video)

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris take a quick look at the tragedy that has fallen up May’s disastrous Brexit deal. The UK Prime Minister has now delayed a critical Brexit vote well past the new year, as she runs to Brussels to seek “assurances” from EU oligarchs.

Meanwhile in a stunning decision that is sure to be leveraged by multiple EU member states, the European Court of Justice has ruled that Britain is free to revoke Brexit unilaterally.

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As Zerohedge reports, ‘Meanwhile In Brexit… Total Chaos’:

It has been a furiously chaotic day for Brexit developments, which considering the “organized” nature of the process to date, is saying something.

Just a few hours after the embattled U.K. prime minister announced to the House of Commons she would “unexpectedly” delay the critical Brexit vote – facing certain and humiliating defeat – and return to Brussels to seek “assurances” from European Union leaders, the fate of any upcoming votes to ratify the deal is now in limbo.

As ITV’s Richard Peston reported, “it appears that UK PM May could keep the current talks with EU going well past January 21st “perhaps right up to Brexit day 29 March, and avoid any parliamentary Brexit vote,” effectively eliminating a popular vote of disapproval for her process.

That, as Bloomberg notes, raises the prospect that May will be back in Parliament in January with virtually the same deal, relying on tanking markets, a crashing pound and frightening no-deal preparations – including even more doomsday rhetoric from the Bank of England – to convince lawmakers to back her. Sadly for May, the parliamentary arithmetic won’t have changed, as only an election can do that. And an election is out of the question as May will almost certainly lose her job, potentially resetting the Brexit process back to square one (or perhaps minus one).

Meanwhile, with the Brexit vote in parliament indefinitely postponed, the UK Parliament will debate the vote delay for three hours on Tuesday according to House of Commons Speaker John Bercow, assuring even more drama and chaos.

The debate was demanded by opposition Labour Party leader Jeremy Corbyn, who said May has shown “disregard for Parliament and the rights of this house” by making a “unilateral” decision to delay vote on her Brexit deal. While the debate won’t be binding on May’s government, contributions “will reflect anger” at May avoiding what was predicted to be a heavy defeat of her deal in House of Commons, according to Bloomberg.

Even so, Corbyn won’t table a “no confidence” motion against Theresa May’s government until there’s been a formal vote on the withdrawal agreement, effectively trapping May in a no way out situation.

And while the domestic chaos hit previously unseen levels, in Brussels European Council President Donald Tusk called a leaders’ meeting on Brexit for Thursday, but made it clear that the EU “will not renegotiate the deal” even as he tweeted that “we are ready to discuss how to facilitate ratification.”

Amusingly, it’s not just Europe that refuses to renegotiate the deal: Irish PM Leo Varadkar was also on the tape re-iterating that the deal cannot be renegotiated.

All this is happening as May’s critics hate the agreement she negotiated because, as BBG notes, they think she’s allowing the U.K. to be trapped in the EU’s orbit indefinitely – a situation they consider even worse than current membership.

To that end, the Daily Mail’s tweeted that Brexiteers claim to have heard of “a couple more” letters of no confidence in Theresa May going in tonight, which means that should the total surpass 48, May’s cabinet may fall even before a vote in Parliament is held… if one is held to begin with.

If that wasn’t enough, juggling a seemingly infinite number of variables, May said the government will step up preparations in case Britain does crash out of the bloc on March 29, which is less than 4 months from now. She once again brought up the threat of no-deal – the worse-case scenario for business – as a weapon to try and bring rebellious Conservatives on both sides of the Brexit debate into line.

To be sure, as the Brexit chaos hits previously unimaginable levels, traders no longer are able to follow every twist and turn in this melodramatic tragicomedy, and appears to be resigned to just sell the pound as it now appears that the only thing that can get the pound to surge – i.e., get a Brexit deal – is if the pound first crash. It did so today, with sterling hit the lowest since April as the market either judged that the risk of no-deal Brexit has increased, or realized that the only way to get a deal is to scare parliament into voting for May’s deal.

So what happens next? Nobody knows.

As Bloomberg reports when pressed by members of Parliament to tell them when she would bring the deal back, May refused to answer, saying only that Jan. 21 served as a deadline because it’s the date in the law when the government has to report back to Parliament on what it’s doing if there’s no deal.

“The worst case is no vote until January 21,” according to Societe Generale SA strategist Kenneth Broux, adding that the longer it takes, the lower the pound is likely to fall.


The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.

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December 11, 2018

None of this orchestrated chaos has anything to do with brexit or concern for the country – treasonmay and her regime are determined to get as good a deal with the eu for themselves and not the country – this is about the survival of the tory party!! The city is alight in Paris but the british prefer to watch tv – although there is anger about nobody knows what to do – the political opposition is in paralysis. MPs generally want to stay in the eu whilst the population voted to leave – this is nothing more than an… Read more »

December 12, 2018

About all I know about Brexit is what The Duran tells me (except for the Brexit-induced fall in the Pound Sterling in 2016 to a level reminiscent of today). It’s so confusing. I suppose that what confuses me is the people assigned to handle the situation are part of a “government,” a collection of representatives of the people and connected to experts in all fields that affect a national destiny. But, all I see is a bunch of people who don’t seem to be able to grasp the task given to them to effect the necessary changes to accommodate what… Read more »

Olivia Kroth
December 12, 2018

May and Macron are two of the same kind: US puppets installed in Europe to follow the orders of the US Deep State. As long as these two rule, nothing good will happen for Europe! The British want out of EU, the French want out of EU, and yet all of them are forced to stay in this artificial structure which damages Europe and is totally against European interests. It was imposed on Europe because the US Deep State can control Europe this way. The first thing should be to expel the CIA from Great Britain and France. Easier said… Read more »

Jane Karlsson
Jane Karlsson
December 18, 2018

‘The powers that be want to nullify the Brexit vote’ says Alex, and Alexander agrees. I do not. The Powers That Be want to destroy the UK, and that’s why they employ Theresa May. To them, she’s doing a very good job. ‘One of the big mysteries is why Theresa May wants to stay on. She can’t be having a very nice time’ says Alexander. Oh yes she can. Have you ever seen her looking uncomfortable? When she should be utterly crushed she looks triumphant. She knows exactly what the Powers That Be want, and she is delivering it. If… Read more »

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