B.J. it has definitely been pushed to the wall, and yesterday's debates, while not as dramatic as Wednesday's, have shown again its powerlessness. The political outburst in Britain continues. At this point, the bill that seeks to block the No - deal Brexit is about to become an official law later.
This will cement any hopes of leaving the EU without a deal, but remember that this is only from the UK. Without resolving the Irish border problem and a clear plan of action, there is no guarantee that the EU will allow a Brexit extension.
In the meantime, it is rumored that the government will try to propose snap elections on Monday before October 31 again. Moreover, it is not known whether the opposition will stand behind its words and call new elections for the MP, or whether it will drop its original rhetoric.
If they do not confirm their position, the political situation in the UK will stall further. The British government will have to ask the European leaders for an extension without an effective majority and without a clear plan to end the whole saga.
Yesterday, however, Boris Johnson said in an interesting way: "I would rather die than delay Brexit!" Will we see his resignation before the end of it all?
Avoiding the No - deal Brexit sounds very good on paper, but without a clear idea of finding a compromise, the situation will most likely last (again). And this is at the expense of the home economy, which is already showing signs of recession.
The pound will now potentially continue to rise even as Brexit is extended, just in the hope that there will be a second referendum. But the longer it goes on, the worse the mood for the UK currency will become.
The sooner everything is completed, the better.
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