It’s less immediate stress on the economy and the British pound than a hard Brexit. But the lack of conditions in granting the extension has weakened the incentives for the U.K. parliament to find a resolution. So now May has to turn to the Labor Party, led by Jeremy Corbyn. This would be a blessing in disguise for the Labor Party, a party that was destroyed by Tony Blair when he “found” Iraq’s weapons of mass destruction. “A hard Brexit is less likely, but the path ahead is as unclear as ever,” says Paul Hollingsworth, U.K. economist for BNP Paribas.

Source: Forbes April 12, 2019 15:03 UTC