Mazed and confused

10 December 2018 By Peter Thal Larsen Follow @Peter_TL

The Prime Minister’s deal to leave the European Union is on life support after she delayed a crucial vote. Britain faces a baffling array of political options. Despite the confusion, the country essentially has four choices. Breakingviews offers a guide through the labyrinth.

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British Prime Minister Theresa May on Dec. 10 abruptly postponed a parliamentary vote on her Brexit deal.

May said she still intended to put her deal to lawmakers, but she would first ask the European Union for more “reassurances” over the main bone of contention: a “backstop” to ensure no hard border on the island of Ireland.

Sterling fell to its weakest level since April 2017, falling by 1.3 percent against the U.S. dollar to $1.256.

The European Union’s top court ruled on Dec. 10 that the United Kingdom can unilaterally revoke its EU divorce notice.

The Court of Justice said in an emergency judgment that London could revoke its decision to trigger Article 50, which signals a country’s decision to leave the EU, with no penalty.

The UK is currently due to formally leave the EU on March 29, 2019.

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