UK: No new information in Brexit Plan B – Danske Bank

Analysts at Danske Bank point out that on the expected lines, UK PM Theresa May's Brexit plan B did not really give us any new information or clarification.

Key Quotes

“It seems like May's strategy is to find out how to get her supporting party, Ulster's DUP, on board, as it would mean bigger support also within her own party. Now, focus is on the amendments, where our focus is on these four topics: (1) a customs union or not, (2) a possible extension of Article 50, (3) preparation of a new EU referendum and (4) new deadlines for Theresa May.”

“The main problem with Brexit is that there is no majority for anything, so it is not a given that any of the amendments will get support from the majority of the MPs. Focus is also on the EU, where we no can no longer rule out a long extension of Article 50, giving time to negotiate the future permanent relationship, which would be the best way to avoid ever having to activate the much-hated Irish border backstop.”