Newsletter

Menu

Brexit: UK asks EU for further extension

By Staff Correspondent |

British Prime Minister Theresa May has requested the European Union to delay the United Kingdom’s exit until June 30, 2019. Will the Brexit be delayed further? This depends on the EU’s acceptance of the requisition made by the prime minister. Also, the prime minister was beginning preparations to hold an election for the European Parliament in late May.

Meanwhile, France has reiterated its opposition for granting the country any further Brexit extension. Also, France has cited its previous decision that another extension requires the UK to put forward a plan with clear and credible political backing. In the absence of the plan, it is acknowledged that Britain chooses to exit in a disorderly manner.

The British prime minister said she would order a vote in late May to elect British members of the European Parliament, assuming Britain is still a European Union member, according to The Washington Post. The UK is now scheduled to exit the EU on April 12 and, till now, no withdrawal deal has been approved by the officials.

Image for representation only (Courtesy: Stefan Schweihofer from Pixabay)

Theresa May has proposed that the country’s exit could occur before the European Parliamentary elections on May 23 if the officials approve an agreement in time. But, in case no deal is reached, then the UK would prepare to field candidates in those elections, she said.

On the other hand, reports stated that the EU is preparing to give Britain so-called “flextension” of around a year until March 2020 with a clause to end the extension as soon as a withdrawal deal was in place. This is expected to give some breathing space for delving into repeated short extensions every few weeks.

Either way could be beneficial for the UK retailers, who have expected a gloomy 2019 due to Britain’s departure from the EU. In 2018, almost 20,000 shops and restaurants have been closed in the UK, hurt by increasing business property taxation as well as cut-throat competition from online sellers such as Amazon (AMZN).

Also, the Brexit deal has been majorly depended for a rate cut or a hike by the Bank of England, which happened to maintain UK headline interest rate at 0.75%. The central bank had expected growth of 1.3% in 2018 and 1.7% in 2019 as Brexit has become an important uncertainty in recent months. In the event of a disorderly Brexit, the committee would be forced to lift the interest rates.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Advertisement

More on this Company

195 responses to “Brexit: UK asks EU for further extension”

  4. MILFCity

    […]Wonderful story, reckoned we could combine several unrelated data, nonetheless definitely worth taking a look, whoa did one learn about Mid East has got extra problerms at the same time […]

  21. Click Here

    […]Wonderful story, reckoned we could combine a few unrelated data, nonetheless seriously really worth taking a look, whoa did a single find out about Mid East has got additional problerms too […]

  27. Click Here

    […]Wonderful story, reckoned we could combine some unrelated data, nevertheless really worth taking a search, whoa did one find out about Mid East has got additional problerms at the same time […]

  29. Click Here

    […]we prefer to honor numerous other world wide web web-sites around the net, even though they aren’t linked to us, by linking to them. Under are some webpages really worth checking out[…]

  50. Click Here

    […]Wonderful story, reckoned we could combine some unrelated information, nonetheless seriously worth taking a look, whoa did 1 understand about Mid East has got a lot more problerms too […]

  100. tombstones

    […]Sysoon is a free resource for finding the final resting places of famous folks, friends or family members and view the burial records from thousands of cemeteries across the world. […]

  164. 늑대닷컴

    […]Wonderful story, reckoned we could combine a couple of unrelated data, nonetheless genuinely really worth taking a search, whoa did 1 find out about Mid East has got more problerms also […]

  170. sui

    […]Wonderful story, reckoned we could combine a handful of unrelated information, nevertheless truly worth taking a appear, whoa did a single find out about Mid East has got much more problerms at the same time […]

Leave a Reply

Top