U.K. lawmakers voted by a majority of just one to force Prime Minister Theresa May to seek an extension to the Brexit process and avoid a no-deal departure. The EU could just say 'no' to a delay, however.
div > div.group > p:first-child"> In another nail-biting vote in the U.K.'s Parliament, lawmakers voted by a majority of just one to force Prime Minister Theresa May to seek an extension to the Brexit process and avoid a no-deal departure.
The U.K. was originally meant to leave the EU on March 29 but granted more time by the EU. Ahead of the U.K. Parliament's vote last night, the European Commission President Jean-Claude reiterated that April 12 was the final date for the approval of the Brexit deal and that no short extension would be possible.
"As an American watching this from afar, we thought this would be done by now and I think what we're increasingly coming to terms with is that no matter what agreement is agreed right now, this is going to be a long-term process because Britain is divided," Christopher Smart, head of macroeconomic and geopolitical research at Barings, told CNBC Thursday.
That could be an unappealing prospect for many politicians in Europe already wary of the rise of populist party politics — the same forces that fomented euroskeptic sentiment in the U.K. ahead of the 2016 referendum on EU membership.
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