Theresa May’s Draft Brexit – What’s next?

Andamento del mercato - 14/11/2018

European Union and U.K announced that they have reached a temporary deal regarding the Brexit. But don't jump the gun yet there are significant obstacles to overcome to prepare the draft agreement in a way that all the parties agree.

On Tuesday evening the Prime Minister Theresa May reportedly explained to members of her Cabinet the draft deal. The deal is expected to grow further than 500 pages long.

Now we do not have any acknowledgment of what are the features of the draft deal. It will be available soon although media rumors have prescribed that the draft agreement concentrates on a lot of new suggestions covering the Irish-Northern Irish border and a settlement to retain the U.K. inside the EU's procedures union after Brexit, for a specific amount of time.

Now, Theresa May needs to convince her Cabinet of ministers and then a majority of the government to support the draft deal. This draft deal is also called a "technical agreement" among the U.K. and EU.

But the support of the deal is not going to pass easily with both poles of the political space, both pro-EU members of her cabinet and government as well as hard Brexiteers suspected to be annoyed with the terms of the draft agreement.

Mujtaba Rahman, managing director of Europe, Eurasia Group said "Even if May clears the Cabinet hurdle today, several ministers doubt that the proposed deal will get through the (House of) Commons. For now, the parliamentary numbers are heavily stacked against her."


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