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U.K. Brexit Vote Disaster For PM May

23 Years ago | January 20, 2019 11/27/22, 12:00 AM

John M. Bland, MBA, co-founder, Global-View.com


Crunch Time For U.K. PM May And Brexit As expected, the House of Commons soundly rejected the proposed deal with the EU. This was an Historic loss for the government after Parliament rejected her Brexit deal proposal on a vote of 432-202. In short, May lost the vote by a margin of 230 votes. Given her crushing defeat, Labour called for a vote of No Confidence on Wednesday which May survived. She must now come up with a new plan by Monday January 21. After two years of negotiations with the EU, it is hard to imagine what she will be able to come up with next. The main stumbling bloc all along has been the status of Northern Ireland vis-à-vis the EU post Brexit.


PM May Unlikely to last Longer If PM May cannot pull a rabbit out of her hat, her party is unlikely to leave her in power much longer. I expect that she will soon be called into a closed door meeting with senior party leaders who will suggest to her that for the good of the party, she should step down. The problem they will face is finding someone who will accept the Poisoned Brexit Chalice and what wil be proposed to move discussions along. For now don’t be surprised if the Brexit discussions with the EU are kicked down the road while a “plan B” is worked out.

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Thu 17 Jan 2019
AA 10:00 EZ- Final HICP
A 13:30 US- Weekly Jobless
A 13:30 US- House Permits/Starts
Fri 18 Jan 2019
A 13:30 CA- CPI
A 14:15 US- Industrial Production
AA 15:00 US- Prelim University Of Mich Survey

 

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 21 Jan 2019
U.S. Hoiday
AA 02:00 CN- GDP
Tue 22 Jan 2019
A 09:30 GB- Employment
A 10:00 DE- ZEW Survey
A 15:00 US- Existing Homes Sales
Wed 23 Jan 2019
A 03:00:00 JP- Bank Of Japan Decision
AA 13:30 CA- Retail Sales
A 16:00 US- EIA Crude
Thu 24 Jan 2019
A all day Flash PMIs
A 01:30 AU- Employment
A 12:45 EZ- ECB Decision
A 13:30 US- Weekly Jobless
Fri 25 Jan 2019
A 09:00 DE- Ifo Survey

 

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