Brexit

A No-deal Brexit is now looking a “very likely” outcome, Michel Barnier, the EU’s chief negotiator has said.

Speaking at a think tank event in Brussels, The French politician said to the audience: “no deal was never our desired or intended scenario,”

“But the EU27 is now prepared. It becomes, day after day, more likely.”

“This is a serious crisis and no-one can be pleased with what is happening in the UK currently” he continued.

Barnier’s comments come after parliament failed once again to decide upon the best way forward for Brexit, after a second round of indicative votes took place on Monday evening.

Last night, MPs voted upon a series of four options on how best to proceed on withdrawing from the EU.

These included a second referendum, a customs union arrangement, staying in the single market or cancelling Brexit altogether.

However, none of the options, which had been selected by the speaker John Bercow, were backed by a majority of MPs.

Initiating a confirmatory public vote was the most popular selection of the night, with 280 votes in favour.

Nevertheless, a larger 292 portion of MPs ultimately voted down the proposal.

The government and the Conservatives were also dealt an additional blow after Nick Bowles MP resigned from the party and as a whip, following the inconclusive indicative Brexit votes.

He tweeted the following:

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The cabinet is set to hold a five-hour cabinet meeting on Tuesday to discuss with ministers the best way to solve the seemingly inexorable deadlock of Brexit.

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Nicole covers emerging global economic and political events for The UK Investor Magazine. Her focus is particularly upon company news and political developments in Europe and the US.