What Is Theresa May's Brexit Strategy? Another Day, Another Battle To Survive

LONDON — British Prime Minister Theresa May was seeking to scotch a growing rebellion against her Brexit plans Monday, urging MPs to back her and saying a divorce deal with the European Union is 95 percent complete.

May's office said she planned to tell the House of Commons that "the vast majority" of issues are settled, including the status of Gibraltar, Britain's territory at the tip of the Iberian Peninsula.

The prime minister also appealed to voters directly with an article in The Sun tabloid, saying "the very last stages of the talks are going to be the hardest of all" but insisting "the finish line is in sight."

But May faces dissent from her political opponents — and, more worryingly, her own Conservative Party — over her blueprint for separation and future relations with the bloc.

Grumbling has grown since she suggested last week that Britain could remain bound by EU rules for two years or more during a transition period after it leaves on March 29.

London and Brussels say the main obstacle to an amicable divorce is finding a way to avoid customs posts and other barriers on the border between the U.K.'s Northern Ireland and EU member Ireland.

Both sides agree there must be no hard border that could disrupt businesses and residents on both sides and undermine Northern Ireland's hard-won peace process. But each has rejected the other side's solution.

An inconclusive EU summit last week ended without a breakthrough on the border impasse. Britain and the EU say they remain hopeful of striking a deal this fall, so that relevant parliaments can approve it before Brexit day.

But May's room for maneuver is limited by pressure from pro-Brexit Conservatives and her government's Northern Irish ally, the Democratic Unionist Party, who oppose any more compromises with the EU.

She's also opposed by pro-EU lawmakers who want to keep close ties with the bloc after Brexit.

Amid talk of a leadership challenge, criticism of May has grown increasingly intemperate. Weekend newspaper headlines saying the prime minister is entering "the killing zone" and faces a metaphorical knifing drew sharp rebukes.

Conservative legislator Sarah Woollaston tweeted to condemn the "disturbing & violent language" used by some of her colleagues.

May's official spokesman, James Slack, offered a succinct response.

"The prime minister has always been very clear that we must set a tone in public discourse that is neither dehumanizing nor derogatory," Slack said.

"Personal vitriol has no place in our politics," he said.

Conservative lawmaker Grant Shapps said the coming week would be dangerous for May, as pro-Brexit Tories pondered whether to try to oust her.

"It's fairly high on the scale" of risk, Shapps told the BBC. "But she operates at the upper end of that scale almost every day of her life and remarkably, walks out at the other end."

With the Brexit clock ticking, fears are growing that Britain could crash out of the European Union without an agreement, an outcome that could create chaos at the borders and in the EU and British economies.

The Confederation of British Industry says a majority of U.K. firms are poised to implement Brexit contingency plans by Christmas, steps that could include cutting jobs, adjusting supply chains outside the U.K., stockpiling goods and relocating production and services overseas.

RECENT NEWS

Global Fund Groups Set To Hit $200tn

Global fund groups set to hit $200tn in assets by 2030, says PwCThe global fund management industry is expected to reach... Read more

Underperform And Report To Office: AHL's Struggles Trigger Policy Shift At Man Group

Man Group, one of the world’s largest hedge funds, has ordered staff at its flagship systematic trading unit AHL to re... Read more

Asia's Quiet Hedge Fund Star: Arrowpoint Rides Tariff Waves To Strong Gains

While some hedge funds chase headlines and media attention, others prefer to let performance speak for itself. Arrowpoin... Read more

China's Contrarian Hedge Fund Star Bags 1,485% Return

In a year when many global investors remained wary of China’s turbulent markets, one homegrown hedge fund has delivere... Read more

Beyond The Black Box: How Hedge Funds Are Systematically Embedding AI Into Core Operations

Artificial intelligence (AI) has long been discussed in hedge fund circles as a powerful but opaque tool—useful in the... Read more

Hedge Funds Rebuild Long Positions In Oil

Brent Crude Rally Gains Momentum After Diplomatic Thaw Hedge funds have significantly increased their bullish bets on B... Read more