As if yesterday's momentous rejection of the U.K.'s Brexit deal with the European Union was not enough to unsettle markets, British Members of Parliament (MPs) are voting again Wednesday evening on whether to block a "no-deal" departure from the EU.
The majority of MPs (391, to be precise) voted against Prime Minister Theresa May's agreement, including 75 from within her own Conservative Party. Voting against her deal doesn't necessarily mean that MPs will vote this evening to support a "no-deal" departure, however.
In fact, for the majority of MPs, a no-deal departure — in which the U.K. leaves the EU on March 29 with no formal arrangements whatsoever — is seen by many as the worst possible scenario and is expected to cause widespread economic uncertainty.
Infamously known as a "cliff-edge" Brexit, a no-deal exit would mean the U.K. abruptly ceases to be a member of the EU overnight on March 29 with no 21-month transition period in place to gently prepare for life outside the economic and political bloc it has belonged to for 46 years.