Will May’s speech break the impasse?
The next stage in the Brexit saga began on Tuesday evening as May appealed to the opposition leader to engage in talks to break the impasse.
It’s still not clear whether we’re seeing a genuine attempt to find a solution that can win the support of a majority of MPs or if this is more political games to alleviate the pressure on the government and make the opposition look uncooperative, or even obstructive, in their attempts to force an election. I guess we’ll see just how much both sides truly want to find a workable solution in the coming days.
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Still, the move from May has resonated well in the markets, as she once again voiced her opposition to no-deal, something Parliament can actually agree with her on. A long extension now looks almost inevitable, although as ever in the Brexit process, if there’s one thing we can be confident about it’s that no one really knows what will happen next.
Perhaps the fear of a soft Brexit will win over some remaining hard-liners and May will try her hand at one more vote on her deal. I wouldn’t put anything past her at this stage. We have one week to go until the emergency EU summit and a week is a very long time in Brexit.
Source – OANDA Brexit Overview
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