Has Theresa May done the impossible?
Though negotiations are still taking place between May and European Commission President Jean Claude Juncker in Strasbourg, UK Cabinet Office Minister David Lidington told the Commons on Monday night that May had secured “legally binding” changes to the withdrawal agreement. If accurate, this would be a major concession on the part of the EU, which had repeatedly insisted that the deal, which was struck last year, was closed and would not be reopened.
The purported concession comes ahead of a crucial Tuesday night meaningful vote on May’s deal that many see as possibly the last chance for her to pass the deal. If it fails, it could give frustrated MPs and cabinet ministers to oust her from office.
The pound rallied on the news, though the move swiftly started to fade after Lidington mentioned that negotiations were ongoing, while the euro weakened to its lowest level since May 2017 against sterling.
Lidington went on to defend May’s original deal, and warned lawmakers that they now faced a stark choice: Vote for May’s deal on Tuesday, or plunge the country into a political crisis.
Though it’s not the first time we’ve heard that.
Immediately after Lidington, Labour Shadow Brexit Secretary Keir Starmer tore apart what may is reportedly offering.
She said it will involve changing the Withdrawal Agreement,” Starmer points out, adding that May then voted for the backstop to be replaced. “It sounds as though none of that has happened.”
“To stand here today and say this is a significant change when she’s repeating what she said on January 14 is not going to take us very far.”
We now await the inevitable walk-back from May’s cabinet and denials from Juncker and the EU27.
via ZeroHedge News https://ift.tt/2TMW9tY Tyler Durden