May deal faces near-impossible hurdles
Prime Minister's Brexit deal opens door to difficult talks with EU states and WTO members.
Singapore
AFTER European Union leaders approved on Nov 25 an agreement on Britain's withdrawal from the bloc, the next step is a UK parliamentary vote scheduled for Dec 11. If Parliament votes in favour, the accord will move to the next step, a formal EU agreement according to treaty procedures. However, given what we know already, the deal seems unlikely to make it that far.
UK Prime Minister Theresa May would almost certainly try to counter a parliamentary rejection of the deal by returning with an amended version to avoid more dramatic alternatives. These could include a revolt in the Conservative party against her leadership, a general election or attempts to engineer a second referendum. Some have even raised the possibility of a "national government", a coalition formed in times of crisis, last seen in peacetime Britain between 1931 and 1940.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access