More UK Government Aides Threaten to Resign Over May’s Backstop Proposal
Matt Weller, CFA, CMT December 7, 2018 12:15 PM
According to a report from The Guardian, PM Theresa May could see more government resignations ahead of Tuesday’s Parliamentary vote on her Brexit deal if the Irish backstop is not amended.
In the words of Tory MP Mike Wood, “I have some big issues with the backstop. If some of those aren’t addressed, then I don’t think I will be able to support it. Clearly the ministerial code says that if I can’t support, I would have to resign.” The report also notes that “more than a dozen elected ministerial aides” expressed concerns about the EU withdrawal deal.
Despite some talk of a delay in the highly-anticipated vote, May insisted that the vote will go ahead on Tuesday as scheduled. GBP/USD is trading down slightly on the day around 1.2750 at the European close.
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