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It is for the Council to decide whether A.50 should be extended, not the Parliament.
Look here. This is not the first flow chart or negotiation document from EU that I've posted to remediate UK press trash or call out internal inconsistencies of various theories about how the UK may interpret TFEU rights and responsibilities under the A50.
The European Parliament will be important in determining the final withdrawal agreement. Whilst it has no formal role within the Brexit negotiation process, other than the right to receive regular information on its progress, the Council needs to obtain the European Parliament's consent (Article 50 (2) TEU), voting by a simple majority of the votes cast, before it can conclude the withdrawal agreement. Therefore, the European Parliament's right to withhold consent to the final agreement offers it political leverage to influence the agreement and effectively makes it a veto player.
Therefore, the European Parliament's right to withhold consent to the final agreement offers it political leverage to influence the agreement and effectively makes it a veto player.
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