The Wall Street Journal reports U.K. Labour Party Would Back Second Brexit Referendum.

The U.K.’s main opposition Labour Party said it would support holding a second Brexit referendum, a policy shift that breathes some life into the prospect of Britons voting again on whether the U.K. should leave the European Union.

Actually it doesn't breathe life into anything as I will explain in a moment, but here is another article along the same lines.

The New York Times reports Labour Party Leader, Under Pressure, Backs a New Brexit Referendum

After the resignations of nine Labour Party members last week, and amid the prospect of more, the party’s leader, Jeremy Corbyn, dropped his longstanding resistance to a second vote on leaving the bloc.

Mr. Corbyn’s support for a new vote is certainly no guarantee a new vote will happen. Still, it will cheer pro-European Britons, who have been fighting to reverse the outcome of the 2016 referendum decision.

The Labour statement on Monday was lacking in detail, and it was not immediately clear when the amendment for a second vote would be put forward in Parliament and what question, exactly, it proposed to put to the people.

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Bluff Under Pressure

The New York Times got the gist of the story in the headline. The key words were "under pressure".

Corbyn does not want a second referendum. He wants new elections. There are many in the Labour party that actually support Brexit.

He had to pick which group to alienate.

The primary risk at the moment is more MPs abandoning the Labour party. With polls turning back towards the Tories, that is hemorrhaging that Cprbyn had to stop.

He supports a second referendum for the simple reason he knows the votes are not there. But he gets to stand back and say, he gave it a shot.

The second referendum idea is going nowhere.

Mike "Mish" Shedlock