UK Parliament is set to vote on no-deal Brexit today at 1900GMT, which will likely be rejected. Then there will be another vote tomorrow for seeking Article 50 extensions. Responses from the EU so far are not very positive regarding an extension.

The European Parliament’s lead Brexit spokesman Guy Verhofstadt warned that he would oppose to even 24-hour extension. He said ” I am against every extension, whether an extension of one day, one week, even 24 hours, if it is not based on a clear opinion of the House of Commons for something, that we know what they want.” Verhofstadt also warned that “An extension, where we go beyond the European elections, and the European elections will be hijacked by the Brexiters, and by the whole Brexit issues. We will talk only about that, and not about the real problems, and the real reforms we need in the European Union.”

EU chief Brexit negotiator repeated his question that “extend this negotiation — what for?” And he reiterated that “if the UK still wants to leave the EU in an orderly manner, this treaty is — and will remain — the only treaty possible”. Barnier also told the European parliament that “We are at a critical point. The risk of no-deal has never been higher. That is the risk of an exit – even by accident – by the UK from the EU in a disorderly fashion. I urge you please not to under-estimate the risk or its consequences.”

UK Brexit Minister Stephen Barclay said today that no Brexit is the bigger risks than no-deal Brexit for the UK. He said that “no deal is going to be very disruptive for the economy and I think no deal also has serious questions for the union”. However, ” no Brexit is catastrophic for our democracy. Between those very unpleasant choices, I think no Brexit is the bigger risk.”

Germany’s Economy Minister Peter Altmaier expressed said After divisive debates & votes, today can become a turning point.” “Rejecting No-deal-Brexit by a large cross-party majority will unite millions in the UK & in Europe.”

European Union’s Economic Commissioner Pierre Moscovici said “we have done everything we could do.” And, “it is tome now for the British to say what they want, now that they said what they don’t want.”

Sterling is knocked down sharply after UK Attorney General Geoffrey Cox published is updated legal advice up the new Brexit deal agreed by UK Prime Minister Theresa May and European Commission President Jean-Claude Juncker late Monday. In short, Cox said that he new documents “reduce the risk” the UK is trapped indefinitely in the Northern Ireland backstop. But such risk is not eliminated.

And most importantly, as Cox’s letter concluded: “the legal risk remains unchanged that if through no such demonstrable failure to either party, but simply because of intractable differences, that situation does arise, the United Kingdom would have, at least while the fundamental circumstances remained the same, no internationally lawful means of exiting the Protocol’s arrangements, save by agreement”.

Legal Opinion on Joint Inst… by on Scribd