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Transcript

00:00:01
>> We will therefore defer the vote schedule for tomorrow.>> And with that, Theresa May postponed Tuesday's UK Parliament vote on whether to approve her Brexit divorce deal.>> Many of the most controversial aspects of this deal, including the back stop, are simply inescapable facts of having a negotiated Brexit.
00:00:19
Those members who continue to disagree. Need to shoulder the responsibility of advocating an alternative solution that can be delivered.>> The Prime Minister is effectively buying more time to deal with opposition to one of the most controversial points of the deal. Namely, the so-called back stop. That's the default customs arrangement designed to prevent a hard border between Northern Ireland and the Republic of Ireland.
00:00:43
But which critics say would leave Britain forced to accept EU regulations indefinitely.>> In complete disarray.>> Oppositon leader Jeremy Corbin suggested she was wasting her time if she brought back the same deal.>> Bringing back the same botched deal will not change its fundamental flaws and deeply held objections.
00:01:03
May's day began with an emergency call with her senior ministers. Amid increasing certainty she would lose the vote if it went ahead as planned. Her case not helped by a ruling Monday from the European Court of Justice. Which confirmed the UK could in fact unilaterally revoke Article 50, the official Brexit trigger.
00:01:22
>>
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00:01:28
>> It made clear Britain can cancel Brexit. Due on March the 29th next year, without permission from other EU member states, and with no penalties attached. Opponents of Brexit see that as boosting their hopes for a second referendum.>> No deal? No problem!>> The renewed uncertainty sent sterling down to its lowest value since June 2017.
00:01:50
Reuters' Tommy Wilkes.>> Markets like certainty, and what this delayed vote, this cancelled vote means is more uncertainty for markets. That's worrying because traders don't know where this is going to go, there is a whole series of scenarios. There could be a second referendum, May returning to Brussels to try and renegotiate her deal, or indeed, a no deal Brexit.
00:02:10
All of this uncertainty worries markets.>> If Theresa May is holding out for help from the EU, she may be out of luck. The European Union's executive stressed again Monday it would not renegotiate its side of the Brexit agreement.
00:02:25
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