Europe considers Brexit extension for next PM

English Brexit clock
English Brexit clock

The European Union is preparing to offer the next British Prime Minister a Brexit extension beyond Oct. 31 to provide yet another attempt to reach an agreement, The Guardian reported, citing unidentified EU officials.

The extra period of membership, while allowing for an agreement to be reached, could be billed to members of the Conservative Party as an opportunity to prepare for leaving without a deal, helping to hold together the party which is split over on what terms to leave the bloc.

Ursula von der Leyen, the incoming European Commission president, has indicated she’s open to a further delay. “I stand ready for further extension of the withdrawal date should more time be required for a good reason,” she told the European Parliament July 16.

The British Parliament has voted against a no-deal Brexit, limiting the scope of maneuver for its next prime minister, likely to be be Boris Johnson. Johnson has generally been in favor of leaving without an accord, though he’s been vague about how such an abrupt departure would be handled.

Johnson is ahead in polls of grassroots Conservatives who will choose the next leader. The party’s members are overwhelmingly in favor of Brexit and regard Johnson as more likely to deliver on the referendum result of three years ago than his rival, Foreign Secretary Jeremy Hunt. The winner of the leadership contest will be announced on July 23.

U.S. President Donald Trump Friday said Johnson will do a “great job” on Brexit, and would clean up the “disaster” left by his predecessor, Theresa May.

ZAR/USD
16.77
(-0.09)
ZAR/GBP
21.15
(-0.12)
ZAR/EUR
18.95
(-0.11)
ZAR/AUD
11.66
(-0.17)
ZAR/JPY
0.16
(-0.09)
Gold
1798.22
(+0.06)
Silver
18.69
(+0.13)
Platinum
824.50
(+0.30)
Brent Crude
43.14
(+2.10)
Palladium
1961.36
(+0.61)
All Share
55417.89
(-0.66)
Top 40
51154.08
(-0.74)
Financial 15
10472.31
(+1.28)
Industrial 25
76134.69
(-1.67)
Resource 10
52483.78
(-0.20)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1937 votes
I am taking a hit, but should be able to recover in the next year
23% - 2541 votes
My finances have been devastated
35% - 3791 votes
It's still too early to know what the full effect will be
25% - 2718 votes
Vote