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Theresa May will not negotiate with the other parties, will look for alternatives

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Theresa May, in a briefing to the Cabinet on Sunday evening, said she did not see any sense in holding a conversation with the other parties on the Brexit issue. According to her, there will be no workable alternative to the plan that Parliament so drastically rejected last week.

Instead, she will be looking for a way to change the part of the deal with the Irish backstop. The goal will be to provide a maximum number of pro-brexit members from the Conservative Party and find allies from the Democratic Party.

However, Europe may not agree to renegotiate the terms of the divorce deal. May's position in this case is bad news for investors who have hoped for a dialogue between the parties that formed a Brexit option supporting a closer relationship with the European Union.

Labor leader Jeremy Corbyn has refused to take part in the talks unless May rejects the likelihood of a Brexit no-deal.

Extending Point 50 was not a discussion of briefing.

Source: Bloomberg Finance L.P.

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


 Trader Martin Nikolov

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