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Today is going to be a very important day for the Brexit negotiations between the UK and the EU, as it is the first instance that Theresa May is not be taking the helm and the leadership role is reserved by the House of Commons.
Unless the notorious trade deal gets passed through Parliament by Friday, the UK will have to decide whether to ask for a long extension of the Brexit deadline from the EU, a request that the EU commission might opt to decline or to crash out of the union without a trade deal.
The fact that the only victory for Theresa May in Parliament thus far was the acceptance of her plea for an extension of the negotiations period, signifies the reluctance of the majority of MPs in the House of Commons to face a hard Brexit.
All this means that more than likely the Parliament will try to either amend and salvage Theresa May's proposal or ask for a long-term extension, meanwhile the possibility of a second referendum is still on the table.
It appears that now more than ever, the probability of a soft Brexit to be realized, with hard-line Brexiteers such as Boris Johnson and Jacob Reece-Mogg both expressing willingness to back up the trade deal proposal on the terms that Brexit is not prolonged indefinitely.
Furthermore, other members of May's own conservative party have now appeared to support the trade deal, once the PM has stepped down a bit from the leadership role, giving credence to the speculations that the Parliament might be inclined to seek General elections and oust Theresa May from office, in order to accept her trade deal, which will prove our assessment of her role as a scapegoat (You can read more about it here).
Since the Parliament took control over the Brexit negotiations, British stocks suffered a noticeable decline, with the FTSE100 losing as much as 2.22% of its value and falling as low as 7146.8.
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