Tell us what you want: German minister says to Britain

Countdown to leaving the EU

Our reading from the market's reaction is that traders expect the shape of any new deal to deliver a "softer" Brexit, one that can command the support across parliamentary lines and would therefore have to pivot towards the Labour Party's preferred Brexit which involves the United Kingdom agreeing to a form of customs union with the EU.

The vote was a second attempt for May to gather the approval of Parliament on the terms by which Brexit will occur. But prominent Brexit supporters, whose support May needs, were unconvinced.

After the tally, May said Parliament would vote Wednesday on a motion ruling out leaving the bloc without a deal.

Among other options, a second referendum, a renegotiation of the Brexit deal, or a further vote of May's deal are the most likely end-game outcomes still and hopes of those succeeding is what will help to underpin the pound further down the road.

On Monday, May said she had secured "legally binding" changes to allay lawmakers' fears - but it wasn't enough.

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The defeat came after May and European Commission President Jean-Claude Juncker announced changes Monday created to overcome lawmakers' concerns about provisions created to ensure the border between EU member Ireland and Britain's Northern Ireland remains open after Brexit.

May herself has warned that another vote against her plan would dramatically increase the chances of a potentially catastrophic "no-deal" Brexit - an exit without any agreement in place with Europe - or a delayed Brexit, or possibly even no Brexit at all.

May's hopes the concessions would be decisive were dashed when Attorney General Geoffrey Cox said the changes "reduce the risk" Britain could be trapped inside European Union regulations - but do not eliminate it.

"If we leave without a deal, we will set the majority of our import tariffs to zero, whilst maintaining tariffs for the most sensitive industries", Trade Policy Minister George Hollingbery said.

Ms. May wasn't helped by Attorney-General Geoffrey Cox, who released a legal opinion of the revised deal on Tuesday that indicated the changes she negotiated had limited impact.

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John Whittingdale, a Brexit-supporting Conservative lawmaker, said the attorney general's advice was "pretty terminal" for May's plan. However, shortly after its publication, the leader of the UK Labour Party, Jeremy Corbyn, slammed the new arrangements regarding the Brexit deal.

The lead exchanges between Theresa May and Jeremy Corbyn were nearly heroically uninteresting; blunt questions clanging off the PM's armour plating.

In remarks released late Tuesday, Maas said the decision to reject the deal "brings a no-deal scenario ever closer".

"Now is the time to come together to back this improved Brexit deal and deliver on the instruction of the British people", May said.

German EU affairs minister Michael Roth, called it "a far-reaching compromise". "There is no alternative".

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A vote Wednesday will ask Parliament: Do you want to leave the European Union on March 29 without any deal in place? "Even if there are a few, short-term bumps in the road we leave and both you and we can get on with the rest of our lives". It is what you do with this second chance that counts.

European Commission President Jean-Claude Juncker said on Monday that there would be no "third chance" to get an improved deal. The smooth functioning of the European Union institutions will need to be ensured.

If parliament rejects the deal, they will then be given the opportunity on Wednesday to vote on whether to leave without a deal and on Thursday on whether to seek a delay to Brexit. May's warning in a tweet, saying: "Today is our Hotel California moment".

May's fellow Conservative parliamentarian Bob Seely underscored Mrs.

It also said it would not introduce new checks or controls on goods moving from the Irish Republic to Northern Ireland, a major concern among Irish politicians who feared a hard border could see a return of violence which blighted the British province for more than 30 years until a 1998 peace accord.

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