The vote for Brexit is postponed, May wins time

Theresa May has succeeded in postponing the deadline for Parliament to hold the so-called Brexit vote. With this "gambling" move, she hopes to gain enough time for more talks, but at the risk of further enhancing a bitter revolt against her.

The British Prime Minister has confirmed that she will not bring a new divorce deal back to the House of Representatives for the final vote this week. Instead, she asks skeptical Members of Parliament to negotiate for a while, promising to have a vote by March 12 - 17 days before UK finally leaves the European Union - with or without a deal.

The politicians in London - including members of the May Cabinet - are losing patience as May tries to renegotiate conditions with Brussels. The business also responds negatively to its decisions.

Some of May's team believe that her opponents - in the EU and in Parliament - can be persuaded to support her in front of the real threat to Brexit's no-deal at the end of March. However, the EU is acting on its own tactics. Officials are considering telling May that if she fails to push her deal through Parliament, then the alternative to avoiding Brexit's no-deal is the extension of Brexit's time. According to some representatives in Brussels, this period can be extended by 21 months. This move, however, would increase the chances of Brexit's opponents to hinder the whole process and even reverse it.

Source: Bloomberg Finance L.P.

Graphs: Used with permission of Bloomberg Finance L.P.

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