UK Parliament rejects PM May's 2nd BREXIT deal

REUTERS - British lawmakers crushed Prime Minister Theresa May's European Union divorce deal on Tuesday (March 12), thrusting Britain deeper into crisis and forcing parliament to decide within days whether to back a no-deal Brexit or seek a last-minute delay. Lawmakers voted against May's amended Brexit deal by 391 to 242 as her last-minute talks with EU chiefs on Monday (March 11) to assuage her critics' concerns ultimately proved fruitless. The vote puts the world's fifth largest economy in uncharted territory with no obvious way forward; exiting the EU without a deal, delaying the March 29 divorce date, a snap election or even another referendum are all now possible. In a tweet, the European Union's Brexit negotiator Michel Barnier said the EU will not negotiate Brexit again. Britain's Prime Minister Theresa May said she profoundly regrets parliament rejecting her deal to quit the European Union for a second time on Tuesday (March 12) deepening the country's worst political crisis for generations, 17 days before the planned departure date. The prime minister, hoarse after Monday's (March 11) late-night talks, told lawmakers: "Let me be clear. Voting against leaving without a deal and for an extension does not solve the problems we face." She said parliament was now at an impasse: "Does it wish to revoke Article 50 (announcing an intention to leave the EU)? Does it want to hold a second referendum? Or does it want to leave with a deal, but not this deal?." The Sterling, which had earlier in the day fallen by 2 percent to $1.3005, was trading at around $1.3086 shortly after the vote.