British Prime Minister Theresa May (photo: Daily Mail)

In January, Parliament rejected a Brexit deal by a resounding majority. The main sticking point was the border between Northern Ireland and the Republic of Ireland. The MPs want legally binding assurances which the EU has been reluctant to give.

Difficulties continue to the last minutes

Prior to the vote, Eurosceptics said they might vote against Brexit. Some MPs of the Labour Party said Mrs. May needs to build consensus in Parliament, otherwise Parliament will have to take control of the process. There has been speculation that the Prime Minister may have to resign as the price of support from the Conservatives for the Tuesday vote.

The Financial Times reports that the Bank of England has told some UK lenders to triple the amount of easy-to-sell assets they hold to help them weather a no-deal Brexit. Liquid assets will enable them to survive 100 days of crisis, more than the 30 days the Bank of England’s rules demand. The New Financial organization has released a survey showing that since the Brexit referendum, financial services companies have moved 1.2 trillion USD in capital, assets and thousands of their employees from the UK to the rest of Europe.

An important deal signed at the last minute

One day before the vote, Prime Minister May had a last telephone conversation with European Commission President Jean-Claude Juncker.

She had called EU leaders last week to seek concessions for her Brexit deal. Finally, 24 hours before the vote, she received EU agreement on legally binding changes. Specifically, Irish Prime Minister Leo Varadkar agreed to an open border between Ireland and Northern Ireland.

EC President Junker said: “It is this deal or Brexit might not happen at all. In politics sometimes there is no third chance. Let's bring the UK's withdrawal to an orderly end”.