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Prime Minister Theresa May wants opposition talks

British Prime Minister Theresa May has shown her strongest signs, however, that she will try to rely on the votes of opposition MPs to win the majority support for her unpopular Brexit deal.

May on Sunday evening sent a conciliatory three-page letter to Labour leader Jeremy Corbyn, in response to his offer last week to help secure “a sensible agreement” on Brexit. May’s letter outlined areas for further negotiation between the government and Labour, and suggested the two sides meet again to discuss the way forward “as soon as possible”.

It comes as the Britain’s Brexit Secretary Stephen Barclay is preparing to meet with the EU’s chief Brexit negotiator, Michel Barnier on Monday. The UK seeks to secure some of the necessary concessions from Brussels at the last minute to win parliamentary support for the May’s preferred withdrawal agreement.

There are growing worries that May will hold a second parliamentary vote on her Brexit deal as close as possible to Britain’s official date of exit from the EU on March 29. This may force British parliamentarians to support her deal or risk the unpopular option of crashing out of the EU without any deal.

Sterling ticked down amid the continued uncertainty. It was trading at $1.29355 at 07:30 GMT before falling to $1.29133 at 08:00.

Meanwhile, more than $2 billion has been yanked from funds that invest in UK companies in only eight weeks, as the political and economic consequences of Britain’s departure from the EU continues to batter investor confidence.

 

Source: MarketWatch