A slap for Theresa May

Even if this rejection was forseen, the massive no sounded like a slap for Theresa May. Indeed, the prime minister received 202 votes for but 432 votes against this agreement. This result demonstrates the inability of Theresa May to lead the rest of the Brexit process and especially to obtain a viable agreement between the various parties.

On the currency side, sterling reacted positively to the rejection of the deal, but investors and analysts remain cautious as they expect an increase in volatility over the medium term.

This volatility will depend mainly on the direction taken by MPs. Indeed, there are three possible options: a hard Brexit, a second referendum and postpone the release date by starting negotiations with a new prime minister.

Regarding the third option, a vote of no confidence will be held tonight.