UK: Another defeat for May – Danske Bank

Analysts at Danske Bank point out that in the UK, PM Theresa May suffered another heavy defeat on Brexit yesterday, as the House of Commons passed an amendment forcing her to present a Brexit 'plan B' for Parliament within three days if she loses the vote on her deal next week, which seems very likely.

Key Quotes

“Note that a previous amendment passed last year means that the members of the House of Commons can debate and amendment her statement (i.e. they can try to tie May's hands by telling her what she should seek to get in the negotiations). With less than three months to Brexit day we are in uncharted territory, and it is difficult to predict where Brexit will end.”

“In our view, May's deal (or something very similar) being passed at a later stage or a second EU referendum are the two most likely outcomes right now, but something needs to give before either happens.”