France Unwilling to Allow the UK to Get Another Brexit Extension

According to France's foreign minister, Jean-Yves Le Drian, the EU and France will not let Britain delay Brexit beyond the current deadline

Brexit

According to France’s foreign minister, Jean-Yves Le Drian, the EU and France will not let Britain delay Brexit beyond the current October 31 deadline. Britain was originally supposed to leave the EU on March 29 this year, but then PM Theresa May got an extension to get the Brexit deal passed through the Parliament.

Amid severe political turmoil, the deal never did pass Parliament and May had to step down, following which Boris Johnson took over the reigns. However, he maintained his stance on leaving the EU with or without a deal on October 31, frightening the markets and the opposition party about how this could impact the UK economy in the long-term.

Johnson and other lawmakers in the UK maintain their rejection of the current withdrawal agreement, especially over the Irish backstop issue. But the EU has been unrelenting in its stance that it is too late to renegotiate a new Brexit deal. If the UK needs another extension on Brexit or wants to reopen negotiations for a new deal, it needs the approval of all members of EU27.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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