Johnson in Crisis as His Enemies Take Control: Brexit Update

• Now that the dust has settled from Prime Minister Boris Johnson’s dramatic Tuesday defeat, it’s time for Parliament to kick it up again.
• Johnson’s first test in a Commons vote ended poorly for him Tuesday as lawmakers voted to take control of the parliamentary schedule, an initial step toward forcing a delay to Brexit by three months.
• In response, Johnson made clear that the more than 20 Conservatives who defied him would be thrown out of the party and proposed a motion to trigger a general election, setting up even more turmoil in the months ahead.
• So what now? Lawmakers may vote on two measures Wednesday -- one to block a no-deal Brexit and then potentially one on whether to hold a general election.
• Meanwhile, it’s not the prospect of a rough divorce from the European Union that has some of Britain’s most affluent worried -- it’s the rising odds of a victory by Jeremy Corbyn’s Labour Party that is the more worrisome development.

(Source: Bloomberg)