EU Official Says No-Deal Brexit Becoming More Likely

Jeannie Matthews
April 8, 2019

The British pound rose against the dollar Wednesday after Prime Minister Theresa May offered cross-party talks with the leader of the opposition Labour Party in a political gamble aimed at resolving the Brexit impasse.

Asked if Mrs May can do a deal with Jeremy Corbyn this week, Mr Coveney said: "We'll have to wait and see". "I want to deliver Brexit, I want to deliver Brexit in a orderly way, I want to do it as soon as possible, I want to do it without us having to fight European Parliamentary elections".

However, by approaching Corbyn, a veteran socialist deeply disliked by many Conservatives and mocked by May herself as unfit to govern, she risks enflaming Conservative divisions. This opens the door to a softer Brexit wide open, but the whole process must be complete before next Wednesday's emergency meeting of European Union heads of government.

"The Prime Minister is trying to get it through on Conservative votes and has not been able to, she's now trying to do it with Labour votes". Labour wants the U.K.to remain in the EU's customs union - a trading area that sets common tariffs on goods coming into the bloc while allowing free trade in goods moving between member states. The Shop Price Index reported by British Retail Consortium rose 0.9% in March, year-on-year, reaching the highest level in six years.

Preparations for a no-deal scenario are continuing.

"There will be no negotiations on future relations".

Negotiating teams from both parties will now meet later this week to continue talks, in the hopes of drawing up a compromise solution to bring to the Commons before April 12.

"There hasn't been as much change as I expected", Corbyn, 69, said.

However, it could also create a schism in the Conservative Party, leading to potential resignations of pro-Brexit government ministers.

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Provided Brussels grants the request, this would effectively rule out a no deal Brexit, which green groups have repeatedly warned would be a "catastrophe" for the environment.

"He said that "...legitimising and turning to Jeremy Corbyn to assist you at this crucial stage, rather than being bold, is a grave error".

Many supporters want the party to throw its weight behind a second referendum. And it does not force the European Union to agree to delay Brexit.

But some in the Labour Party have cast her gambit as a trap aimed at scaring her own lawmakers into backing the thrice-defeated deal, or as a way to extend responsibility for the difficulties of Brexit to the Labour Party.

Former Foreign Secretary Boris Johnson - who was also a lead campaigner for Britain to leave the European Union - has said that ministers are "entrusting the final handling of Brexit to Labour".

"It is clearly a trap created to try to get May's awful deal through, which some people have fallen for, but Labour mustn't", he wrote on Twitter.

"EasyJet claims its first half loss of 275 million pounds ($360 million) was in expectations, but also the outlook for the six months through September will be" more careful" because of" softness in ticket yields from the United Kingdom and around Europe".

She has promised to step down if her withdrawal agreement is passed by parliament and her overture to Corbyn has alienated some Conservatives still further. "I say that again very strongly".

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