A few minutes ago, the government of Boris Johnson was defeated. The House of Commons voted 328 to 301 to take control of the Brexit agenda. The opposition to a hard Brexit can now can bring forward a bill seeking to delay the UK’s EU exit date beyond October 31, 2019.
However, the really important thing is not more time. The opposition to a hard Brexit must come forward with a soft Brexit plan acceptable to a majority in the House of Commons as well as to the EU, which more than once has made clear that the EU is not willing to renegotiate Theresa May’s deal.
Therefore, it is time for MPs opposing a hard Brexit to understand that the alternative to May’s deal, which almost nobody wants, is to Revoke Article 50. Remain is the best available deal. Parliament could also decide to put that option to the voters to decide. Then of course, a no deal would be on the table.
The markets have concluded a long time ago that a hard Brexit is economically disastrous. Whenever a hard Brexit becomes more likely, the pound gets weaker towards the euro and other currencies. Whenever the likelihood of a hard Brexit diminishes, the pound gets stronger again.
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Boris Johnson (official photo as Foreign Secretary). Photo credit: www.gov.uk.
Article added on September 3, 2019 at 23:42 German time.
