At the end of March 2019, the United Kingdom is still set to leave the European Union as a result of the referendum on Brexit. However, following the political events in the UK last week, where a delay to Article 50 was backed by parliament, we will be monitoring developments closely this week as the Prime Minister requests an extension from the EU.
18 Mar 2019
In February 2019, KAS BANK’s Brexit Task Force provided some answers around Brexit and our position remains unchanged until we receive more clarity on the outcomes.
As the UK and the EU were not able to reach an accord, a delay to Article 50 was backed by parliament. Any extension requires unanimous agreement by the EU 27 and as yet the extent of any agreed delay is not clear. EU leaders are scheduled to meet at a summit 21-22 March when a formal request from the UK to extend Article 50 could be made and approved.