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Economists trim Singapore forecast, Brexit woes continue

Kok Xinghui
Kok Xinghui3/18/2019 07:30 AM GMT+08  • 6 min read
Economists trim Singapore forecast, Brexit woes continue
SINGAPORE (Mar 18): The UK’s Parliament had on March 13 voted to avoid an economically disastrous no-deal split from the European Union (EU), opening the door to delaying Brexit and radically rewriting the terms of the divorce. Prime Minister Theresa Ma
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SINGAPORE (Mar 18): The UK’s Parliament had on March 13 voted to avoid an economically disastrous no-deal split from the European Union (EU), opening the door to delaying Brexit and radically rewriting the terms of the divorce. Prime Minister Theresa May’s preferred deal, which took two years to negotiate, was resoundingly rejected by the Commons for the second time in a vote on March 12.

Although a no-deal Brexit is off the table, all is not peachy with Brexit’s progress. On March 14, after this paper has gone to print, Parliament will vote on delaying leaving the EU. However, the outcome of this vote is not legally binding and the EU is under no obligation to follow what Parliament has voted.

“The legal default in UK and EU law remains that the UK will leave the EU without a deal unless something else is agreed,” May told the Commons after the vote on March 13. “The onus is now on every one of us in this House to find out what that is.”

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