GBP/USD analysis: Parliament's rejection of Brexit deal will be "catastrophic and unforgivable"

GBP/USD analysis: Parliament's rejection of Brexit deal will be

GBP/USD analysis: Parliament's rejection of Brexit deal will be "catastrophic and unforgivable"

Mr Farage made the comments after it was revealed that Remainers are plotting to overturn Parliamentary protocol in efforts to stop the United Kingdom leaving on WTO terms should Prime Minister Theresa May's Brexit deal be voted down on Tuesday - which is the most likely scenario.

He told the BBC: "I believe the European Union will extend Article 50 for us but I think it'll only do it in a very limited number of circumstances and we have to be realistic about that as well".

Mrs May is facing a heavy defeat on Tuesday as Conservative backbenchers prepare to unite with Labour to vote the deal down.

While in the second they voted for the government to come back to the Commons with a plan B for Brexit within three days should it lose Tuesday's vote.

But he has insisted the United Kingdom should not afraid of a no-deal Brexit, despite forecasts from the Treasury and Bank of England warning that it could trigger an economic crisis worse than the 2008 financial crash. And Brexit paralysis ultimately could lead to no Brexit.

The British parliament will act to stop a no deal Brexit from happening, Vince Cable, the leader of the pro-EU Liberal Democrats, said on Sunday.

"I think that is something that we would regret for many, many generations".

"I think it's now looking much less likely that parliament would allow a no-deal outcome anyway", said Mr Hunt.

He warned Eurosceptics that they may not be able to rely on the clock ticking down to the default option of a no-deal Brexit on March 29 if Mrs May's deal is voted down.

TNE columnist and Labour peer Andrew Adonis said: "When Chris Grayling can organise a lorry jam and a railway timetable, we'll take his advice on fixing a political system which he did more than nearly anyone to break".

"So those on the Brexiteer side seeking ideological purity with a deal are risking Brexit, because there is a growing risk that events could unfold in ways that (mean) they are leaving the door ajar to ways that increase the risk to Brexit".

It was the second setback in 24 hours for the prime minister, after MPs also voted to deny the government certain taxation powers in a no-deal scenario - an attempt to scupper that prospect.

Former minister Jim Fitzpatrick told the Commons on Friday that he was "not far away" from backing May's deal, saying the "danger of no deal is still there" and the PM's plan was "the only real alternative on the table".

Lawmakers are set to vote on May's Brexit deal on Tuesday, after she shelved plans for a vote in December when it became clear that not enough lawmakers from her own party or others would back the deal she agreed with Brussels.

But she said: "I intend to work with colleagues to make sure we avoid it".

After stepping down, he said he did not "believe" in the Prime Minister's strategy and warned the United Kingdom was "giving away too much and too easily" to the European Union in the negotiations.

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