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Europe can offer longer extension of Brexit

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The EU is ready to offer Theresa May a longer extension of Brexit, but this will be tied to stringent requirements. These include, of course, the need for the UK to organize the European Parliamentary elections.

European Union leaders are planning to meet two days before the April 12 exit date. The meeting will be extraordinary, and the new offer is part of the diplomats' plan to tackle the increasingly unpredictable parliament and government of the UK.

Brexit is postponed until January or April 2020. In one extreme scenario, such a bid could be accepted and implemented by May even if it did not request a further extension during the next week's meeting with EU leaders.

The British Prime Minister hopes, however, a short delay to avoid holding elections for the European Parliament. However, this short extension may occur if the deal is accepted. May hopes she will succeed by agreeing on the future US-EU relationship before 10 April.

Long-term extensions will be considered positive and will be the best way for Westminster to get out of the way. This will remove the responsibility of the EU and accuse the UK of "forcibly evading" it. If things go to no-deal, extending Brexit by one year would be acceptable.

An offer for an EU extension to the UK will be a historic moment, and Parliament will have to decide whether to endorse Brexit's deal, to pardon or to accept a longer extension.

Source: Financial Times


 Trader Martin Nikolov

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