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Montevideo, November 18th 2017 - 06:34 UTC

Brexit has a date and will be written into law: 11pm GMP 29 March 2019

Friday, November 10th 2017 - 21:11 UTC
Full article 5 comments

The date of Brexit will be written into law as Theresa May warned Tory rebels that the process of leaving the European Union will not be derailed. Amendments to legislation going through Parliament will spell out that the UK’s membership of the EU will end at 11pm GMT, midnight in Brussels, on 29 March 2019. Read full article

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  • :o))

    23:00 GMP 29/03/2019 - the time when the shit will hit the fan!

    Nov 10th, 2017 - 10:17 pm - Link - Report abuse 0
  • Brit Bob

    Hard Brexit - Governor Bank of England 18 October
    BoE Governor Mark Carney discussed the risks of a hard Brexit during his testimony to the UK Parliamentary Treasury Committee. There was renewed weakness in Sterling during his testimony.
    Ironically, given the fall in Sterling, Carney explained why Europe’s financial sector is more at risk than the UK from a “hard” or “no-deal” Brexit. We wonder whether Juncker and Barnier appreciate the threat that a “no-deal” Brexit poses for the EU’s already fragile financial system?
    When asked does the European Council “get it” in terms of potential shocks to financial stability, Carney diplomatically commented that “a learning process is underway.” Having sounded alarm bells about clearing in his last Mansion House speech, he noted “These costs of fragmenting clearing, particularly clearing of interest rate swaps, would be born principally by the European real economy and they are considerable.”
    Calling into question the continuity of tens of thousands of derivative contracts, he stated that it was “pretty clear they will no longer be valid”, that this “could only be solved by both sides” and has been “underappreciated” by Europe. Moving on to the possibility that there might not be a transition period, Carney had a snipe at Europe for its lack of preparation “We are prepared as we should be for the possibility of a hard exit without any transition…there has been much less of that done in the European Union.”
    Maybe it’s Europe, not the UK, that needs the transition period most.

    Posted 6 days ago - Link - Report abuse 0
  • DemonTree

    Sounds like a pointless gimmick to shut up the ever-paranoid Brexiters. The real story is how badly the negotiations are going as we're almost sure to miss the December deadline now. The longer we go with no clarity, the greater the collateral damage to business.

    Posted 6 days ago - Link - Report abuse 0
  • golfcronie

    Come on EU. The UK needs to see where all the money is going ( propping up bankrupt countries springs to mind ) so lets see your audited accounts for the last 30 odd years. My personal opinion is that the EU has a lot more to lose than the UK.The British taxpayers ought to see the audited accounts.

    Posted 5 days ago - Link - Report abuse 0
  • Jolene

    The question is why is this piece appearing in Mercopenguin, a British government propaganda organ supposedly devoted to America, South America and the “South Atlantic”?

    Posted 1 day ago - Link - Report abuse -1

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