Jan 16, 2019 8:30:00 AM | LGT Navigator
LGT Navigator: May faces no confidence vote after defeat
Yesterday evening the British Parliament rejected the Brexit agreement negotiated by Prime Minister Theresa May with the EU by a large majority (432 votes to 202). EU Commission President Jean-Claude Juncker believes that the rejection of the Brexit treaty in the British House of Commons has increased the danger of a "disorderly withdrawal" without an agreement. The EU Commission will now continue preparations for a "No-Deal-Brexit", Juncker commented. Immediately after the vote, the Labour Party asked for a vote of no confidence against Prime Minister May. The vote will take place today. If May loses the vote of no confidence, this could lead to resignation and the formation of a new government or new elections.