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EU gets closer to granting a short delay for Brexit

Mar. 21, 2019 3:29 PM ETEWU, FXB, GBB-OLD, FKU, DBUK, QGBR, HEWU, DGBP, UGBP, FLGBBy: Liz Kiesche, SA News Editor1 Comment
  • The European Union is moving toward allowing an extension of the Brexit deadline until May 22, but warns that the U.K. may fall out of the EU if Prime Minister Theresa May's agreement with the EU doesn't get U.K. Parliament's approval by that date.
  • Elections for the European Parliament begin on May 23, and May told her EU counterparts that she wouldn't organize elections for the European Parliament in May.
  • EU officials and diplomats say faith in May's ability to get backing for her exit deal is diminishing, the Wall Street Journal reports.
  • A third vote on the deal May negotiated with the EU is expected next week, days before the U.K. is scheduled to leave the bloc on March 29.
  • Bloomberg reports that European leaders are discussing how to proceed if May's Brexit deal is defeated a third time by U.K. lawmakers--one option is to offer a nine-month delay.
  • Update at 4:00 PM: EU leaders also discuss an unconditional extension to May 7 that delays the immediate threat of no-deal, according to Bloomberg.
  • Previously: Pound skids 1.1% as Brexit turmoil churns on (March 21)
  • ETFs: FXB, EWU, OTC:GBB, DBUK, FKU, HEWU, QGBR, DGBP, FLGB, UGBP

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