We are now less than 6 weeks away from the date when the UK is due to leave the European Union and at the moment the future is still very uncertain.
At the moment Prime Minister Theresa May is looking to renegotiate further changes to the Irish backstop agreement but has yet to get much further in her favour.
The real problem with the current set up is that the UK could potentially end up remaining in the customs union which is something that MPs do not want to take place.
Over the weekend Theresa May has written to all Conservative MPs in an attempt to create some unity behind the party as the next meaningful vote is due to take place on 27th February. The main challenge she faces is that of the Irish backstop arrangement which has been evident in the number of the votes since the start of the year.
With just over a week to go before the next vote is due to take place the likelihood is that the European Union will not back down over the Irish border issue and this could see another loss in the House of Commons next week and this could once again highlight the problems Theresa May has in getting her Brexit deal through parliament.
There are a number of potential different outcomes over the next few weeks and I think the most likely outcome will be the UK looking to extend Article 50 as it is unlikely that Theresa May will get enough backing to get Brexit through under her terms.
Clearly neither the UK nor the European Union want to have a no deal Brexit so extending Article 50 is arguably the safest option and this could result in the Brext saga carrying on and on. It could be argued that this could help the Pound as it avoids the risk of a no deal Brexit but at the same time it adds pressure to Sterling as it merely provides further uncertainty during the course of this year.
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Tom Holian email@example.com