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The EU27 unanimously approved the extension of Brexit

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The meeting between EU member states and Theresa May ended, with Donald Tusk announcing that a unanimous agreement to extend Brexit has been reached.

The two scenarios are as follows:

  1. If Parliament does not approve the May-hard Brexit deal on April 12th
  2. If Parliament approves May-soft Brexit's deal on May 22

The third vote on the deal will be next week. The EU exit agreement itself will not be renegotiated. The likelihood of a Brexit no-deal remains possible.

After the meeting, Tusk and Juncker had a press conference stating that:

  • All options are open until April 12th
  • If Britain does not make a decision by 12 April, further extension will not be possible
  • Britain has accepted the extensions scenarios
  • There is nothing more to do with the UK
  • We hope the UK will accept the agreement
  • We are also prepared for no-deal Brexit, extraordinary measures are foreseen

Theresa May had a press conference after that where she stated:

UK Prime Minister May speaking now:
  • welcomes council approval of assurances on backstop
  • believes strongly would be wrong to participate in EU elections
  • will return to London on Friday to build support for deal
  • says i know MPs are frustrated too
  • says we are now at moment of decision
  • says very grateful to MPs who support deal
  • delay decision shows clear choice for MPs
  • is working to ensure we leave EU with deal
  • I do not believe we should revoke Article 50
  • stands by commitment to change Brexit date legislation
  • MPs have a chance next week to look at the choices they face
  • We need to work with parliament on how to proceed if deal fails
  • We will be leaving the EU
  • Parliament's duty to deliver the referendum result

 Trader Martin Nikolov

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