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Brexit postponed, but no later than May 22nd

22 March 2019
Economics&Markets
energynomics

The European Union has accepted Britain’s request to postpone Brexit, but only for a maximum of one month, until May 22. The British Parliament must approve next week the agreement negotiated by Theresa May with the EU, otherwise there will be a hard Brexit, on April 12th.

British Prime Minister Theresa May has accepted the two “scenarios” of Brexit postponement advanced by the European Union, European Council President Donald Tusk announced on Thursday evening. ” “I met Prime Minister May several times tonight to make sure the UK accepts the extension scenarios and I am pleased to confirm we have an agreement on this,” said Donald Tusk.

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European leaders proposed to the UK two options for postponing Brexit, initially scheduled on March 29, according to the conclusions of the first day of the European summit in Brussels.

The extension until 22 May is conditional. It will be granted if the UK Parliament approves next week the withdrawal agreement reached in November 2018. If it does not, EU leaders agree to delay Brexit until 12 April, expecting the UK to “indicate a way forward before this date”.

The British Prime Minister asked for a postponement until June 30, but as this date exceeded the European elections (May 23-26), Britain would have been forced to take part in this election. “In case of a no vote or a no, directly it will guide everyone to a no deal, for sure,” commented the French president Emmanuel Macron.

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