Brexit has been delayed (shortly)

EU leaders agreed on March 21 to postpone Brexit day, imposing two new dates — April 12 and May 22 — that will determine the course of the U.K.'s departure.

The EU leaders devised the new plan after rejecting U.K. Prime Minister Theresa May's request for an extension of the Article 50 negotiating period to June 30.

Both new dates in the EU plan come with conditions, but in either event the original March 29 deadline — the so-called cliff-edge by which Britain would leave the bloc with or without a divorce agreement — was put off, if only for two weeks.

EU27 leaders said that if the U.K. parliament ratifies the Brexit deal before the March 29 deadline, Britain will have until May 22 to complete any technical steps, exit and begin a transition period. That is a day before the European Parliament election begins.

If the House of Commons fails to vote, or votes to reject the deal for a third time —outcomes viewed as far more likely given continuing political chaos in the U.K. — the U.K. would have until April 12 "to indicate a way forward."

Let’s see if Theresa May will find a way to get a third vote in the Parliament, despite the constitutional objections raised by the speaker.

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