British Prime Minister Theresa May will seek German Chancellor Angela Merkel’s support on Tuesday for changes to the Brexit deal in a last minute bid to avoid a disorderly exit that would silt up the arteries of trade and roil financial markets, Trend reports referring to Reuters.
Less than four months until the United Kingdom is due to leave the European Union on March 29, Brexit was plunged into chaos on Monday when May finally acknowledged that British lawmakers would not accept her current deal.
Amid demands for a national election, ridicule and blunt warnings that her eleventh-hour bid for a changed deal was in vain, May pledged to seek EU support for changes to make it more palatable to lawmakers.
The EU said it was ready to discuss how to smooth ratification in Britain, but that neither the withdrawal agreement nor the contentious Irish backstop would be renegotiated.
May is due to meet Dutch Prime Minister Mark Rutte and German Chancellor Angela Merkel on Tuesday, Downing Street said. Brexit will be discussed at a previously scheduled EU summit on Dec. 13-14.
Without a deal, the options for the world’s fifth largest economy include a last-minute agreement, probably struck in 2019, another EU referendum or national election, or a potentially disorderly Brexit without a deal.
The ultimate outcome will shape Britain’s $2.8 trillion economy, have far-reaching consequences for the unity of the United Kingdom and determine whether London can keep its place as one of the top two global financial centers.