Johnson reaches Brexit deal, but needs Parliament's approval

The man with the deal. Photo: WIktor Szymanowicz/NurPhoto via Getty Images

U.K. Prime Minister Boris Johnson announced this morning that he's reached a "great new" Brexit deal with the European Union — a statement almost unforeseeable one week ago, when Johnson seemed to be steaming toward a constitutional crisis over a potential "no deal" Brexit on the Oct. 31 deadline.

Between the lines: Johnson's deal is similar to the one his predecessor, Theresa May, saw repeatedly rejected in Parliament (including by Johnson), with some tweaks around the crucial issue of Northern Ireland.

  • The parliamentary arithmetic looks tricky for Johnson too, as he no longer has a working majority and a Northern Irish party that supports his government, the DUP, has rejected this deal.
  • Jeremy Corbyn, leader of the opposition Labour Party, has said this deal is "even worse" than May's. Labour wants a second referendum in which the public can accept or reject the deal.
  • The British pound is surging. It had weakened significantly on the prospect of "no deal," which would be economically calamitous as it would see trading arrangements dissolve overnight.

What's next: Johnson wants Parliament to convene to vote on his plan this Saturday. That's the deadline the opposition and rebels within his own party imposed to either reach a deal with the EU or seek a deadline extension beyond Halloween. It should be dramatic.

Additional Stories

NYT: The DOJ just distanced itself from Rudy Giuliani

President Trump's personal lawyer Rudy Giuliani holds a press briefing in Warsaw in February. Photo: Siavosh Hosseini/NurPhoto via Getty Images

Department of Justice officials wouldn't have met with Rudy Giuliani about a fraud case had they known that federal prosecutors were investigating two of his business associates, a DOJ official told the New York Times Sunday.

Why it matters: The highly unusual statement by DOJ spokesman Peter Carr to the NYT clearly distances the department from President Trump's personal lawyer Giuliani, whose associates Lev Parnas or Igor Fruman have been indicted in New York on campaign finance charges.

New ECB chief Lagarde: Trump uncertainty is hurting global economy

Incoming European Central Bank President Christine Lagarde speaks at a Women's Forum Americas 2019 event in Mexico City, Mexico. Photo: Carlos Tischler/NurPhoto via Getty Images

President Trump's unpredictability is "hurting" trade and his trade war with China is "going to give a big haircut" to the world economy, incoming European Central Bank President Christine Lagarde told CBS News' "60 Minutes" Sunday.

"[T]he biggest key that President Trump has is in relation to predictability and, and certainty of the terms of trade. It's the unknown which is hurting, because you can't adjust to the unknown. So what do you do? You build buffers. You build savings. You wonder what comes next. That's not propitious to economic development. ... the United States is at risk of losing leadership."
— Lagarde to CBS News' "60 Minutes"

The big picture: The IMF, which Lagarde led until September, said last week it expects the world economy to grow 3% this year — the weakest pace since the 2008 global financial crisis. The IMF pointed to the U.S.-China trade war as being the biggest factor. It forecast the dispute would cost 0.8% in global GDP losses this year.

Go deeper: The ideal ECB president

State Department circulates talking points contradicting Trump on Syria

U.S. military vehicles drive on a road in the town of Tal Tamr on October 20, 2019, after pulling out of their base. Photo: Delil Souleiman/AFP via Getty Images

The State Department distributed talking points to American embassies on Oct. 17 that included warnings that Turkey’s military offensive against Kurds in northern Syria is undermining counter-ISIS efforts and endangering innocent civilians, Vox's Alex Ward reports.

Why it matters: The talking points contradict President Trump's optimism about the Turkish incursion that followed his decision to remove troops from northern Syria. They indicate that members of his administration, especially career diplomats, are worried about the long-term consequences of the decision.

Read more at Axios
© Copyright Axios 2019