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Why this week’s Brexit chaos is good for the City

A day from hell for British Prime Minister Theresa May could spell good news for the City of London’s largest financial institutions

May's defeat could work out well for City bosses keen on keeping closer links with the EU's single market
May's defeat could work out well for City bosses keen on keeping closer links with the EU's single market Photo: Getty Images

UK Prime Minister Theresa May probably began Tuesday morning with a sense of optimism about the prospect of her Brexit deal winning approval from UK parliamentarians in this evening’s landmark vote.

On Monday, she had secured what she felt were material concessions from the EU. But her optimism was short-lived. First the government’s attorney general, Geoffrey Cox, published legal advice on Tuesday morning suggesting that Brexiteers’ fears for the deal remain well-founded. Then leading Brexiteers came out against it.

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