Brexit vote postponed: Here’s what could happen now – CNBC

Johnson grudgingly asked for an extension to the deadline late on Saturday night, but EU leaders don’t necessarily have to accept it. Some have ruled out giving Britain more time, piling pressure on U.K. lawmakers to accept the current deal. But it’s unlikely they would want a no-deal scenario and the potential economic hit it could mean for both sides of the English Channel.

Brussels could offer a technical extension of a few weeks in the hope of passing the agreement they recently thrashed out with Johnson. Or they could accept what Johnson was obliged to ask for on Saturday night and push the date back to January 31, opening the door to a U.K. general election — which itself could lead to a renegotiation or a second referendum.

They could also push it out until June 2020 when the next cycle of EU budgets begins, but this is seen as unlikely with the Brexit fatigue that has set in across the whole of Europe.

EU leaders are expected to take their time with a response, but it could come as early as Monday.

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