Brexit could be dead after years of angst, struggle and the resignations of two British Prime Ministers. Germany’s Merkel through has let it be known in the aftermath of Prime Minister May’s resignation and the European elections; her country will veto any Brexit extension application unless the UK holds another referendum or general election.
Norbert Roettgen, a senior MP for Germany's ruling CDU party and one of Merkel’s lieutenants, during an interview on Monday, insisted there would be no extension to the Article 50 process unless the United Kingdom offered a concrete reason, such as a public vote.
Roettgen also warned Tory leadership candidates against trying to "blackmail" the EU by threatening to leave with no deal unless the Brexit deal is changed.
France and other members of the EU are voicing solidarity in their flat out unwillingness to any further negotiations. This puts right-wing Brexiters in a box even if they are successful in elevating Boris Johnson to be Prime Minister.
UK political analysts widely
believe that while pro-Brexit support still holds in the mid-’40s if another
referendum or general election is held on Brexit, it’s very likely to be
defeated. Investors should start thinking about the changing landscape in
Europe with Brexit effectively -- off the table.