The sterling declined sharply in overnight trading after Theresa May admitted that her proposal would not pass through the house of commons. In a statement to parliament, she admitted that the deal she negotiated was not adequate for the parliamentarians. She said that in the negotiations, she had to balance on the important needs for the country with that of the European Union. She then postponed the vote until further notice. The House of Commons will go to recess on December 20 and will reopen in January 7. The country will also leave the European Union, with or without a deal on March 20th.

Theresa May faces a number of challenges. First, in her own party, there are those who want a soft Brexit. These are people who want to continue having a close relationship with the European Union. To them, they would want to have a Brexit that leaves everything unchanged. Then, there are those members who favor a hard Brexit where the country separates itself completely from the European U...

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