The odds on the United Kingdom leaving the European Union with a deal have been slashed after MPs voted in favour of Prime Minister Theresa May to renegotiate her Brexit agreement.
The original Brexit agreement that was struck between Mrs May and the European Union was voted down by MPs in Westminster earlier this year, but now they have voted in favour of replacing the major stumbling block – which is the Irish backstop.
The Irish backstop – the insurance policy designed to avoid a hard border in Ireland in the event of no deal, is the major stumbling block which MPs will not agree too, and now they have told Mrs May to return Brussels to talk about a renegotiation – although the EU were quick to insist that they would not be revisiting the deal, although many believe they will not want the UK to leave without a deal.
And despite the initial comments from the EU, Mrs May is now hopeful that she can negotiate a revised deal and get it back to the House of Commons to be voted on before the March 29th deadline – which is when the UK are due to leave the EU.
OddsMonkey spokesman Peter Watton commented: “Theresa May looks to have come back after confirming she would return to the Brussels to regurgitate her Brexit deal, but with the backing of the House of Commons.
“Bookmakers have reacted by slashing odds. The chances of leaving the EU with a Brexit deal are now into 6/4 having been as long as 5/1 at the weekend.
“Indeed Mrs May’s odds of still being around on April 1 have also been slashed and she is now odds-on at 1/4.”
UK Brexit Status on April 1:
UK Still In EU (Article 50 to be extended) – 6/4
Left EU with a deal – 6/4
Left EU with no deal – 25/1
Theresa May still to be PM – 1/4
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