Posted on 01/15/2019 4:13:59 PM PST by E. Pluribus Unum
London (CNN Business) - The British pound shrugged off a dramatic vote in the UK parliament that left the government's Brexit plans in tatters.
Parliament on Tuesday struck down the divorce deal that Prime Minister Theresa May had negotiated with the rest of the European Union by a record margin. The defeat was expected, but the size of the loss — 432 votes to 202 — was a surprise.
The pound, which had fallen below $1.27 earlier on Tuesday, erased its losses after the vote and strengthened to $1.28. Some analysts had predicted the pound would rally if May suffered a major defeat because that would raise the chance of Brexit being delayed.
The crushing loss means parliament may now wield greater control over the process. Capital Economics said lawmakers could move to delay Brexit while they work on alternatives. "Most importantly the size of the defeat appears to reduce the chances of the United Kingdom leaving the European Union without a deal," said Paul Dales, chief UK economist at Capital Economics.
(Excerpt) Read more at cnn.com ...
imho, UK needs to just EXIT the EuroNazi Union
ASAP.
regain British sovereignty and liberty, and destiny
I wish some states in the USA could exit this failed union.
The presstitutes never miss a chance to pile on.
I admit I’m cobfused on this. British news sources claim this will allow the UK to leave in March...no strings.
As far as I read, Brexit wasn’t repealed.
All of the compromises to it just got flushed.
Relations should just suddenly cut off.
If this is the end of Brexit?
President Trump may want to consider ending our part in the 5 Eyes Intel Sharing with the UK, Australia, New Zealand and Canada.
Apparently, the UK’s GCHQ spied on candidate Trump, president elect Trump and maybe even President Trump for the Obama/Deep State Thugs and our rotten DOJ/FBI.
The people voted and the politicians should honor that vote and just leave and stop asking “Mother May I”.
That's not what a strengthening pound indicates.
Instead, it indicates fear of a financial recession, where the overall money supply drops (which is caused and exactly the same as bankruptcies, pulled lines of credit, etc.) - what we saw in 2008.
Most importantly the size of the defeat appears to reduce the chances of the United Kingdom leaving the European Union without a deal," said Paul Dales, chief UK economist at Capital Economics.
Huh?
Vernon Bogdanor, Professor of Government at Kings College, has claimed that if Theresa May’s Brexit Withdrawal Agreement is defeated then the likelihood is Britain will leave the EU without a deal.
: 0
The price of Yellow Vest stock just jumped.
What would like us to do? uncobfuscation is costly.
These days Virginia is pretty much a mini-me of California.
Virginia still has a republican state house but it is jeopardy too. Sad. VA is one of the lowest taxed states and very fiscally sound. That won’t last long either.
As I understand it, PM May’s deal sucked. She split the diffference between a clean Brexit and retaining EU associations -—actually favoring the EU. Not worth a damn, so I view this as good news.
good point!
I'm certainly no expert here but there's no question that the Swamp in Brussels...populated by many,many,many Germans,Frenchmen,Spaniards and others who very much enjoy their Mercedes limos,Italian villas and smoked salmon luncheons...doesn't want Britain to leave.And simply put that's because they know that the first brick to fall will make it easier for the second brick.
I can easily see how currency traders would see this vote,and the possibility that Corbyn will become PM, as a sign that Brexit won't happen.
LOL...fat finger salute
The Euro was down by more than the Pound was up.
Not much but, PANIC!!!
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