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Pound falls and EU calls emergency summit after Brexit deal rejected again

British Prime Minister Theresa May lost the latest vote on her withdrawal agreement by 58 votes, a narrower margin than previous shattering defeats but a body blow nevertheless to her much-maligned Brexit plan.

The result of the vote means that at present Britain are heading out of Europe on April 12th – the extended deadline agreed between London and Brussels – unless the prime minister can come up with a plan B that satisfies Europe's 27 member states.

In that case the EU and Britain would have to agree to a longer extension which would likely mean the UK taking part in the elections for the European Parliament in May.

The increased likelihood of a no-deal sent the level of the pound falling on Friday as it ducked below the $1.30 mark for the first time since March 11th.

That meant bad news for all those retired Brits living in the EU who rely on their pensions to live. Currency experts say the level of the pound is unlikely to rise again until the Brexit conundrum is solved.

'It's a tough ride for Brits in Europe'

After the vote Donald Tusk, the head of the European Council, called an emergency summit for April 10th, two days before Britain is due to leave the EU.

In view of the rejection of the Withdrawal Agreement by the House of Commons, I have decided to call a European Council on 10 April. #Brexit

— Donald Tusk (@eucopresident) March 29, 2019

Britons in the EU will now be extremely concerned that the deadlock in Westminster could lead to the UK crashing out of Europe without a deal, which would lead to their rights being severely restricted.

Kalba Meadows from British in Europe and Remain in France Together said: "Nobody can be complacent about the risk of no deal though, as a long extension needs two things: a roadmap from the UK, and the unanimous agreement of all the EU27 heads of states."

"It's a tough ride for Brits in Europe, as it is for all the 5 million, who are conflicted between needing certainty about our rights and not wanting to see a damaging Brexit.

"Parliament has to come up with an alternativeRead More – Source

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