The British Parliament rejected Prime Minister Theresa May’s Brexit plan for a third time.
With the vote, Britain is closer to a leaving the European Union without an agreement. This “no-deal” departure from the EU could be disastrous.
They now have less than two weeks to work things out.
Theresa May offered to resign in order to coax voters to support the deal.
With the vote, the EU commission put countries on notice that they should prepare “at all levels and for all outcomes.” It warned that Britain’s abrupt withdrawal would impact supply chains, trade, transportation and personnel.
Leaving without an agreement could leave Britain with food and medicine shortages.
May could once again ask the EU for an extension, but EU leaders have indicated that they might only be willing to give a long extension–a year or more–which would give Britain the time to rethink the departure.
The EU does not favor Britain’s withdrawal as it weakens the group and could encourage other countries to consider leaving as well.
what is the EU
The European Union is a group of 28 countries that work together to support free trade and open borders.
It eliminates border controls between members, which allows the free flow of goods and people.
Any product manufactured in one country can be sold to any other member without tariffs or duties. Doctors, lawyers, bankers and other professionals can operate in all member countries. Goods and services are cheaper as a result.
Want a little more information on the EU? Geek out here.
why leave the EU
52% of the British voted to leave the EU. A spike in immigration and monetary concerns were top of the list of reasons for the vote.
a good exit
A “good exit” would probably mean Britain would somehow remain part of the EU’s regulations and customs arrangements, which would allow goods to continue to move across borders.