In the latest Brexit latest news, Theresa May Must Quit in Three Months, some cabinet ministers warn.

Theresa May must stand down after the local elections in May to allow a new leader to deliver the next stage of Brexit negotiations, Cabinet ministers have warned. Ministers said that the Prime Minister will have to leave after the first phase of Brexit negotiations are concluded or she will face defeat in a vote of no confidence at the end of the year.

Meanwhile, John McDonnell has warned that the Labour Party is "moving towards" backing a second referendum, as he indicated that it could become the price their MPs would demand from Mrs May to support her Brexit deal. The Shadow Chancellor told the Evening Standard that "we've kept [a second referendum] on the table and we're moving towards that", suggesting that an amendment by MPs Peter Kyle and Phil Wilson calling for the party to back a deal provided there was a public vote on it "could be a solution". The amendment has reportedly been endorsed by shadow Brexit secretary Sir Keir Starmer at an internal party meeting this week.

This comes as a group of 100 moderate Tory MPs warned the Prime Minister that they will try to force her to delay Brexit next week if she cannot reach a deal, while a Tory defector told the Telegraph that the prospect of Parliament supporting bids to delay Brexit were a "done deal".

"No Deal In the Desert"

The Telegraph reports Sterling Hovers Around $1.30 after Reports of 'No Deal in the Desert'

It was thought that Theresa May could hold discussions with Donald Tusk on the sidelines of meeting of European and Arab leaders in Sharm el-Sheikh on Sunday. A Brussels official told Reuters: “there will be no deal in the desert" this weekend.

No Deal Accident

Meanwhile the fearmongering continues as EU negotiator Michel Barnier proclaims There is High Chance of 'Accidental' No-Deal Brexit.

As the British prime minister heads to Egypt for an EU-Arab summit in Sharm el-Sheikh, the bloc’s chief negotiator publicly said he believed there remained “a chance” of ratifying the deal. But he told a French radio channel: “Today I am more worried than before” over the talks, adding that the UK needed to make decisions fast.

The EU official also told ambassadors privately, after the negotiations with the UK’s Brexit secretary, Stephen Barclay, and a visit by May to Brussels, that the chances of an “accidental” no-deal Brexit were high.

The Commons is expected to vote on an amendment next week on whether to force May to request an extension by mid-March if a deal is not agreed by MPs. But with the political situation in London volatile, the EU capitals have been warned by Barnier to be ready for the UK to crash out.

“There will be no deal in the desert,” a senior EU official said. Noting that the EU already had a full agenda for the summit and that at least four EU leaders were not expected to take part: the official said: “Even if we wanted to we couldn’t, but thirdly we don’t want to.”

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Repeated "No Clarity" Lie

The EU keeps repeating there was no clarity on what the UK wants.

Actually it is very clear what the UK wants.

  1. A fair deal
  2. A solution to the backstop

We are in this mess because May agreed to a horrid deal and the UK won't let her out of it.

Take-It-Or-Leave-It

If May would only turn this around, and vote for the Malthouse Compromise, then present that to the EU as her own take-it-or-leave-it offer, one of two things would happen, both good.

The EU would either agree, or it wouldn't. Both are excellent opportunities and the second is actually better for the UK.

The Malthouse compromise would keep the UK in a customs unions for two more years, allowing both sides to figure out a compromise.

The even better alternative, is the EU says no. In that case, the EU gets no Brexit breakup payments at all.

I strongly suggest that if only May would present this offer, the EU would be forced to take it.

Either way, the UK wins.

Mike "Mish" Shedlock

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