Another defeat in the British House of Commons
Yesterday, 12 March 2019, by an overwhelming majority of 391 to 242 votes, the British House of Commons again clearly defeated the negotiated compromise proposal on the withdrawal of the United Kingdom from the European Union. This means an orderly Brexit on 29 March 2019 is hardly possible anymore, and a no-deal (or "hard") Brexit is becoming increasingly probable, unless the UK decides to apply for postponement of its withdrawal date and the EU agrees to that postponement.
The LBA very much regrets that once again, this opportunity was missed so shortly before the withdrawal date to establish clarity on the Brexit question. If a hard Brexit does indeed occur, the political and economic uncertainties would further increase, which would likely have a negative impact on European and hence worldwide economic development and the financial markets. Liechtenstein would also not be immune to these developments. It is all the more important that all possible measures be taken under this worst case scenario to maintain existing rights and treaty agreements to the fullest possible extent.