LONDON (AP) — The Latest on Britain’s departure from the European Union (all times local): 9:15 a.m. The pound has fallen sharply after Britain’s Brexit minister resigned from the government, saying he did not agree with the deal the country had struck with the European Union over the terms of its departure next March. Michel Barnier photo from Associated Press.
Uphill Struggle
Britain’s Brexit Secretary Dominic Raab has resigned, saying he «cannot in good conscience support the terms proposed for our deal with the EU.» The resignation is a big blow to Prime Minister Theresa May, who is due to address lawmakers later this morning on the draft Brexit deal. She is already facing an uphill struggle to convince enough lawmakers in Parliament to accept the agreement with the European Union. May made some major concessions to the EU to achieve the deal: Britain, for example, will remain tied to the European Union’s customs union during the transition period and potentially for much longer.
EU chief Brexit negotiator Michel Barnier(Photo) holds a draft withdrawal agreement as he speaks with journalists during a media conference in Brussels on Wednesday, Nov. 14, 2018. British Prime Minister Theresa May said that she won her Cabinet’s backing for a draft divorce deal with the European Union after a marathon meeting Wednesday. The currency dropped as mentioned ,1 percent, a relatively large decline for an established currency, to $1.2870 within minutes of a tweet by Dominic Raab saying he «cannot in good conscience support the terms proposed for our deal with the EU.»
Political Backlash
Prime Minister Theresa May faces a political backlash over the deal, which is considered insufficient by Brexit backers as well as those who wanted to remain in the EU. Parliament needs to approve the deal and it is unclear whether May has the numbers to push it through. May, who had persuaded a majority of her cabinet to back the deal, is addressing lawmakers Thursday morning.
