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January 24, 2019

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Lawmakers pushing to take over Brexit talks

An attempt by British lawmakers to prevent a no-deal Brexit gained momentum yesterday after the opposition Labour Party said it was highly likely to throw its parliamentary weight behind the bid.

The United Kingdom, facing the deepest political crisis since World War II, is due to leave the European Union on March 29 but has no approved deal for the divorce.

Prime Minister Theresa May is battling to break the deadlock after last week鈥檚 crushing defeat of her two-year attempt to forge an orderly divorce raised the prospect of an exit without a deal.

In a step that could overturn centuries of constitutional convention, some lawmakers are trying to grab control of Brexit from the government in an attempt to prevent what they say would be an economically disastrous no-deal departure.

An amendment proposed by Labour lawmaker Yvette Cooper could see May being given until February 26 to get a deal approved by parliament or face lawmakers voting on delaying Brexit.

John McDonnell, the second most powerful figure in the party, said the amendment was sensible and that Labour was 鈥渉ighly likely鈥 to back it. At least nine Conservative lawmakers have also said they will support it, suggesting that it has a good chance of passing.

The pound strengthened 0.5 percent against the US dollar to US$1.3024, the highest since mid-November, on a view that a no-deal Brexit can be avoided if parliament exerts greater control. As the UK鈥檚 tortuous two-and-a-half year crisis over EU membership approaches its finale, possible outcomes for the world鈥檚 fifth largest economy still include a no-deal Brexit, a last-minute deal, a delay or a snap election.

鈥淧reparing for a no-deal scenario is more important now than ever, even though I still hope that we can avoid this scenario,鈥 EU Brexit negotiator Michel Barnier said.


 

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