12 March 2019 : In a last-ditch attempt to avoid a “No-deal” scenario, British Prime Minister, Theresa May announced yesterday that, she had agreed changes to the initially rejected deal. This was subsequent to a series of meetings with Jean-Claude Juncker, EU president. The major changes centered around the dispute over the border between Northern Ireland and the Republic of Ireland, the most contentious issue in the Brexit debate and a major sticking point for both members of the ruling Conservative party and the opposition. Specifically, the new deal reduces the likelihood that the Irish backstop becomes permanent as some MPs believe that this could keep the UK in the common market, deleting the reason for the exit in the first place. 

MPs are set to vote on the modified deal later today and should the bill fail to pass, another vote will be held tomorrow on whether to proceed with a no-deal Brexit. Should that vote also fail, a vote on whether the country should extend the deadline of Article 50 will hold on Thursday. An extension to article 50 would throw the EU into further uncertainty, extending the bearish sentiment in the trade-block, further slowing global economic recovery. 

Reporting for EasyKobo on Tuesday , 12 March 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited