What is Next for Brexit?

With the U.K Parliament now shuttered for five weeks and the recent political turmoil throwing up more questions than answers, analysts have been busy contemplating what could happen next in Britain as it approaches its Brexit deadline.

The shutdown of Parliament — known as prorogation — will see lawmakers reconvene on October 14. The suspension marks the end of one parliamentary session before the start of the next, and it’s usual for it to take place at this time of year.

However, the current shutdown, which began in the early hours of Tuesday, is more controversial than most due to its extended length and because it comes at a period of high anxiety in U.K. politics over the direction of Brexit.

It’s fair to say the U.K.’s political establishment has been in tumult since the divisive 2016 referendum on EU membership. It has culminated in Parliament’s three-time rejection of the existing Brexit deal on offer, but also the dismissal of a no-deal Brexit.

This summer, Parliament saw the arrival of a new prime minister in July determined for the U.K. to leave the EU on October 31 “come what may.”

via CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.