Eq: Dev ex-US


If you look at it from the outside, a second Brexit referendum has had the feeling of inevitably for at least a year now. The chaos and unexpected fallout from the fraught negotiations between the EU and UK have made it seem likely that the British people would need to settle the matter with another vote. That expectation is now looking likely to turn into a reality as Britain’s opposition party, Labour is backing a plan to bring forward a second vote.

FINSUM: In our mind, the claims that holding a second vote is undemocratic are ridiculous. On the one hand, no voter back in 2016 could have known how this Brexit mess would actually progress, which means the people should get a second chance to decide on the deal at hand. On the other, how can a whole nation voting on an issue ever be considered undemocratic?


So far Brexit has been the complete mess everyone expected. The whole deal looks like it is hurdling towards a chaotic no-deal departure. Parliament looks very likely to reject PM May’s deal, a vote on which she has delayed in order to save face. However, the EU has just extended a major olive branch by virtue of its judiciary. The top EU court just ruled that the UK can unilaterally back out of Brexit at any time despite the fact that they have formally enacted Article 50, or the official leaving process from the EU.

FINSUM: All they have to do is hold a Parliamentary vote or second referendum and this whole mess would be over. IT is a long way from something that simple happening.


The Brexit situation seems to be getting worse and worse (or maybe better and better, depending on where you stand). In an embarrassing defeat, PM Theresa May just lost a Parliamentary vote regarding her Brexit deal which now gives Parliament the right to vote on any final deal. Parliament also ordered her government to release the legal advice they had received regarding the departure from the EU, an unorthodox move that shows a lack of faith in the PM.

FINSUM: What this means is that Parliament now essentially has the right to block Brexit, or call for a second referendum. Sterling plummeted on the news.

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