Start United States USA — Financial This Week Will Mark A Turning Point For Britain And Brexit. Really!

This Week Will Mark A Turning Point For Britain And Brexit. Really!

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This week is a turning point for Britain and Brexit. No, really! We’ve heard this before, but now it looks to be real. That’s because the British
This week is a turning point for Britain and Brexit. No, really! We’ve heard this before, but now it looks to be real.
That’s because the British Parliament is scheduled for some crucial votes that will determine
Britain is scheduled to leave the EU on March 29, with or without a deal — unless Parliament votes to postpone.
Here’s what you need to know about the week ahead.
What’s the first big vote this week?
On Tuesday, Parliament will vote on the prime minister’s withdrawal agreement. For now, it seems likely to go down to defeat, as it did in January.
That’s because May has been unable to convince Brussels to change the agreement, which her team negotiated last year, and put in legally binding reassurances that the U. K. will not become trapped in a long-term customs arrangement with the European Union. Remaining inside a customs arrangement would prevent the U. K. from striking new trade deals with other nations.
Some British politicians call this a „Hotel California“ Brexit, because, from their perspective, „You can check out anytime you like, but you can never leave.“
British lawmakers have said they want a time limit on — or a unilateral way to leave — a customs arrangement. Brussels has repeatedly refused, because if the U. K. leaves a customs arrangement before it inks a new free-trade agreement with the EU, it would force a return of customs posts on the Irish border. That could provoke violence, given the border’s violent political history.
What happens if Parliament votes in favor of May’s deal?
Britain’s beleaguered prime minister would declare a personal victory and the United Kingdom would enter a transition period until the end of 2020. During this time, the country would remain inside the EU customs union and begin to negotiate a new free-trade agreement with Brussels.

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