Theresa May has another 6 months to sort Brexit but what will she do with it?
U.K. Prime Minister Theresa May has returned from Brussels with a Brexit extension that pushes the next deadline out to October 31.
Whether her government calls a snap general election, works out a softer Brexit or doesn't even leave the European Union are all still on the table. The possibility of Britain leaving the EU with no deal whatsoever also remains very much alive. In a separate email to CNBC, UBS's Head of U.K. Rates Strategy John Wraith said the extension will ensure economic headwinds remain for Britain, as businesses and consumers won't feel freed to press on with investments or big-ticket purchases.The German bank believes that Britain is now obliged to participate in the next round of EU parliamentary elections which will only increase division in the U.K.
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