With the Brexit deadline pushed, lawmakers are faced with either ratifying the proposal or holding another election.

The European Union agreed to grant the U.K. another membership extension until January 31st.

This will be the third Brexit deadline extension in a year. The request was made by British Prime Minister, Boris Johnson, after Parliament passed a bill forcing Johnson to ask for an extension. The bill also rejected the timetable that Johnson had proposed in hope of having the newest proposal ratified before the October 31st deadline.

The referendum to leave the EU was held in June 2016. Ever since, Parliament has been divided on the terms that should be set when leaving the EU.

Johnson now has proposed to hold an election on Dec. 12 and lawmakers are expected to have voted on it by Monday. Johnson currently does not hold a majority in congress, thereby making slimming the odds that this measure will pass. Johnson would need the Labour party to vote in favor of it in order for him to get the majority needed to have an election approved.

British lawmakers abstaining from the vote are hoping that alternative pathways to an election will be pursued and are also optimistic that it will increase the odds of a second referendum.

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Economics, Finance and Investing