Brexit deal expected to be rejected - analyst


Posted at Jan 15 2019 04:46 PM

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MANILA - British Prime Minister Theresa May's Brexit deal, supposed to redefine the United Kingdom's relations with the European Union, is expected to be rejected by the Parliament, an analyst said Tuesday. 

The only question is by how large a margin will May lose the Brexit vote, according to Richard Cockett, business editor at The Economist.

"As is expected, it will be defeated," Cockett said in an interview with ANC's Market Edge. 

Cockett said that if the margin of defeat was 20 or 30 votes, this would give May leeway to go back to Brussels and renegotiate. EU leaders may grant minor concessions to allow May to get a second deal through Parliament. 

But a defeat by over a hundred votes would mean that May's deal has no support. 

"Then clearly the deal is dead and it's back to the drawing board," he said. 

He said every option was being considered, including a second referendum to stay in the EU, and a hard Brexit where Britain and the EU part ways without a deal. 

"The only thing that parliament agrees on is that the second option, crashing out without a deal, is a bad option, would be a bad outcome for Britain."