Six UK Government Ministers Quit Over Brexit: Pound Slammed, Deal in Doubt

After digging into the 585-page Brexit document, Theresa May's ministers came to the right conclusion: The deal stinks.

The Wall Street Journal reports U.K.’s Brexit Deal in Jeopardy as Senior Ministers Resign.

> Six government ministers, including Brexit Secretary Dominic Raab, one of the architects of the deal, quit Thursday as the prime minister faced a barrage of criticism over the plan in Parliament, raising the possibility that she could face a challenge to her leadership.

> The pact has drawn fierce opposition from both within her Conservative Party and the Labour Party opposition. In addition to Mr. Raab, Esther McVey, the U.K. pensions secretary, also resigned from Mrs. May’s cabinet.

> “It is mathematically impossible to get this deal through,” said Mark Francois, a euroskeptic Conservative. Mr. Francois said he estimates that more than 80 Tory lawmakers are prepared to vote against the deal, as are Mrs. May’s allies in the Democratic Unionist Party and opposition parties. “The stark reality, Prime Minister, is that it was dead on arrival.”

> A Conservative Party leadership challenge can be triggered if 48 Tory lawmakers submit letters of no confidence to a special committee. Even if such a challenge emerges, it is unlikely that a majority of Tories would then vote in favor of ousting her from office. However, a rebellion of 48 lawmakers would mean Mrs. May wouldn’t have the support within her own ranks to get a Brexit deal voted through Parliament.

> Jeremy Corbyn, the leader of the main opposition Labour Party, said his party would vote against the proposed agreement. “The government must withdraw this half-baked deal,” he said in the House of Commons.

May Jeered

Wow. Imagine both Republicans and Democrats laughing at Trump that way in Congress.

May was openly, and deservedly laughed at.

There is a slightly different and arguably better video in the WSJ article.

Please play at least one of them.

Pound Sinks

The Financial Times reports Pound Falls Sharply After Ministers Quit Over Brexit Deal.

What's Wrong With the Deal?

  1. It potentially keeps the UK in limbo perpetually.
  2. While in limbo, the UK has to keep paying the EU for access
  3. While in limbo, the UK has no voting rights
  4. It does not solve the problem with Ireland, it only works out a temporary arrangement.
  5. The deal leaves the UK at the mercy of the ECJ, the European Court of Justice, an EU body.

What's Right With the Deal

In a word, nothing.

In a sentence, the deal stinks to high heavens so badly, it's hard to see how anyone could like it.

In a paragraph, it temporarily solves a few issues, but at enormous expense. It puts the UK at the mercy of the EU for years. Given that it solves no problems, but forces the UK to keep paying a Brexit bill, the EU will not agree to any changes that are not in its favor.

Best Deal Possible?

Theresa May says “The choice is clear: We can choose to leave with no deal. We can risk no Brexit at all. Or we can choose to unite and support the best deal that can be negotiated. Voting against a deal will take us all back to square one.”

Let's give May the benefit of the doubt: Assume this is the best deal the EU would agree with.

Would you buy a stinking kettle of fish if that was the only fish available, or would you buy something else?

May's Square One Lie

May is a liar. Rejection of this deal is not a return to square one.

In fact, both the UK and the EU are making preparations for a hard Brexit. Procedures covering worker's rights, trade through the tunnel, air traffic etc., are all in the works. The longer this goes on, the less scary a hard Brexit becomes.

That indeed is the reason for May's gambit. She needs to scare the begeebies out of everyone for political fame: "I worked out a deal, hurray!"

Some deals are so bad they must be refused.

The UK should take a pass on this rotten kettle of fish.

Mike "Mish" Shedlock

Comments
No. 1-12
Stuki
Stuki

"Some deals are so bad they must be refused."

Not "some." Virtually all.

Flexibility trumps almost anything. Almost any time. "Deals" are seldom more than shorthand for artificially erected walls and chains.

Whatever is the end result of no deal, it's final. People will adapt. Humans are good at that. They'll work around whatever problems their environment poses. UNLESS THEY ARE BARRED FROM DOING SO. By some "deal" supposedly negotiated "on their behalf." Inevitably by someone who never even bothered to give them a phone call.

The two most important properties of their environment, for any population, is always flexibility and finality. Flexibility to optimize without restriction, and finality providing certainty that what they optimized for, won't be yanked out from underneath them on someone else's whim.

Of course flexibility and finality are, surprise surprise, exactly the two properties that leave the lawyers who run the Anglo world, with the least influence.....

abend237-04
abend237-04

And, on the other hand, it may have been brilliant. She can now say to Brussels, "See, I told you it wouldn't sell, but let's have lunch, once a year, and discuss what to do next."

sunny129
sunny129

Do I feel sorry for the plight of the British? Not one bit!

May be I am highly biased.The karma of colonial masters who claimed that the Sun never sets in the British empire! Look at the millions of souls who suffered and affected by them over the centuries, all over the World, including close to home Irish and the Scottish? This is one of the elements of the perfect storms raging against the 'everything bubble' here. More the chaos and more turmoil. great for the advancement of the needed RESET!

caradoc-again
caradoc-again

It's not funny. What the "f" have these people on the UK side been doing for 2+ years since the referendum?

Long said there is every chance Brexit will be the straw that breaks the back of the UK and possible global economy. Just enough stress to cause it all to come crashing down.

It is serious for all concerned.

Kinuachdrach
Kinuachdrach

It is astonishing that a Prime Minister in a Parliamentary system can face this much opposition on one of her key policies … and yet no-one in her Conservative Party will step forward to challenge her leadership. It makes one wonder how effective the UK Political Class will be in dealing with the inevitable challenges (and opportunities) after the UK has separated from the EU.