UK: No dramatic Brexit vote – Danske Bank

According to analysts at Danske Bank, yesterday's Brexit vote was not as dramatic as one could have expected.

Key Quotes

“The Cooper amendment, which was changed so as to put PM Theresa May's pledge down in writing, passed as expected and things now come down to three key votes in mid-March (vote on full deal on Tuesday 12 March, vote on support for no deal on Wednesday 13 March and vote for extension of Article 50 on Thursday 14 March).”

“We think the most likely outcome is that the House of Commons will vote in favour of asking the EU27 for an extension of Article 50 by two to three months. While the risk of a 'no deal' Brexit has declined, it has not disappeared.”

“We stick to our long-held view that the two most likely scenarios are either May's deal (or something very similar) passing eventually or a second EU referendum.”