Brexit: The Chaos Continues

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On 12 March 2019, UK fell further into chaos. The House of Commons rejected Theresa May’s renegotiated Brexit deal with EU by 391-242 votes marking one of the biggest defeats for the British government just months after May suffered the biggest defeat in British parliamentary history in January 2019. After the March 12 defeat, the British Parliament is all set to debate on 13th March 2019 for a No-Deal Brexit.  May is looking to secure a ‘Nay’ from the House of Commons and proceed with an extension of Article 50 to avoid a No-Deal Brexit that could cost Britain 45 billion pounds annually apart from business and financial disruptions per the calculations of British treasury. The main sticking points in Brexit are no time limit to Irish backstops and access to the European Customs Union which has legal complexities in withdrawal agreement.

The opposition Labour party lead by Jeremy Corbyn is pitching for 2nd referendum and calling for general elections as Tories are unable to thrash out a proper Brexit deal. EU has significantly hardened its position after yesterday’s defeat in British Parliament saying room for further negotiations is less. UK is fully mired in chaos as the Brexit deadline of 29 March 2019 approaches near with fear of a No Deal Brexit weighing in the minds of British people and the world. From playing off France and Germany against each other whilst acting as the influential balancer, life seems to have come full circle for Her Majesty’s Kingdom.

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