Breaking / Brexit update: Tusk said EU agree on extension - 31st Oct
|- PM May is talking to the opposition, (Labour), to try to find a solution to the Brexit impasse while simultaneously asking the EU today at an emergency summit for an extension of sorts, with various options that were laid on the table, one of which being an extension until 30 June until the UK passes a deal.
- PM May is, however, aiming to get the deal through parliament before 22 May (which would mean the UK would not have to go ahead with the European elections).
On the day where EU leaders gathered for an emergency Brexit, whereby the UK parliament has still not approved a deal and PM May was looking for an extension of sorts, we have some key updates on the situation as follows:
- Tusk says agreed on an extension.
- The extension is agreed until October Brexit - review in June.
- June “break clause” was put in to appease France, as President Emmanuel Macron wanted assurances that the UK would conduct European elections properly.
- According to the Sun, some EU officials have not been impressed by Emmanuel Macron’s conduct tonight.
Further reading:
- Sources: EU leaders agree Brexit delay until October – Reuters
- UK's PM May addresses EU leaders, requesting article 50 extension until 30 June (Letter to European Council President Donald Tusk enclosed)
- Brexit: PM May refuses to say if she will resign if UK is still in EU after June 30
- GBP/USD Technical Analysis: Cable directionless amidst Brexit chaos
- Draghi speech: Brexit not expected to have much of an impact on real economy
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