Brexit imbroglio : Change of tack but no real signs still of breakthrough

THERESA May has thrown the dice in a final gamble to get her European Union withdrawal deal over the line.

The beleaguered prime minister is well aware that Parliament, businesses and investors local and foreign fear the economic consequences of leaving the EU without a deal, and has thus approached Labour leader Jeremy Corbyn to agree on a new withdrawal proposal in the national interest.

For businesses and investors there are several risk scenarios. First, the UK parliament does not agree to a proposal that is acceptable to EU leaders. By legal default, the UK would leave without a deal. If there is no agreed adjustment period, there would likely be economic dislocation for both the UK and Continental Europe. Thus in the short run there would be a sigh of relief if the EU accepts a likely "soft Brexit" proposal and allows the UK to leave with a deal.