CEO of UK industrial manufacturer is imploring British lawmakers to unite around a compromise Brexit deal, saying the country's political chaos is making the U.K. a 'laughing stock.'
official says the U.K. has a "last chance" to break the deadlock on leaving the European Union.
Boles made the dramatic statement in Parliament moments after the results of the votes were announced, saying he couldn't remain in the party. Boles' proposal called for Britain to remain in the European Union's single market for goods and services. It was narrowly defeated by 282-261. Barclay says the default position calls for Britain to leave the European Union in 11 days. He says if Parliament agrees to May's withdrawal agreement this week it "may be possible" to leave the EU without participating in European elections in late May.British lawmakers have failed to find a majority for any proposal in votes on alternatives to the government's rejected Brexit deal.
Rather than the usual procedure of voting with their feet by walking through "aye" and "no" lobbies, members of Parliament are each receiving a paper ballot listing all four options. Another option wants any Brexit deal to be submitted to a public referendum, and the fourth says Britain should cancel its departure from the EU if it comes within two days of crashing out of the bloc without an agreement.A leading credit ratings agency has reiterated the array of economic difficulties it foresees Britain encountering if the country crashes out of the European Union without an exit deal.
Siemens U.K. CEO Juergen Maier urged lawmakers in an open letter to choose an option that keeps Britain in a customs union with the EU. He said that choice would allow frictionless trade to continue between the U.K. and the EU, something many firms have come to rely on. Some British politicians have suggested the U.K. could stay for longer without participating in the EU elections. But European Commission chief Jean-Claude Juncker told reporters in Saarbruecken, Germany that "if the British haven't left by April 12 and there is an extension, then Britain must take part in the European election.
Shares fell 8.3 percent in early London trading after the profit warning. Shares in other airlines and travel companies also fell, with British Airways owner IAG down 2 percent and travel group TUI down 2.5 percent.
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