Yves Smith has a good assessment ("Brexit: Chaos Visible") of yesterday's vote in parliament rejecting by a large margin for a second time prime minister Theresa May's Brexit deal with the European Union.
Assuming that the parliamentary votes go as expected the next couple of days -- the vote to reject a crash out; the vote to ask the EU for an extension of the March 29 deadline -- Smith thinks the EU might not be in the mood to rubber-stamp a delay (and if it does it will demand a detailed plan for a path forward in return, not merely a few week or few months kick-the-can exercise).
Plus, Smith thinks that there is no hope for parliament to grab the wheel. A moribund, one-trick-pony executive remains in the driver's seat.
Smith mentions that to delay the March 29 Article 50 deadline will require something like 50 separate parliamentary votes. There is little reason to believe that a badly fractured parliament has the ability to delay a crash out even if that is its intention.
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