It is yet another crucial week for the Brexit process in the UK, after the European Union (EU) granted a limited and conditional extension of the exit deadline under Article 50 last week. The new departure date will be determined by the outcome of a third meaningful vote in Parliament on the deal that Prime Minister Theresa May has negotiated with the EU – which could take place as early as Tuesday or Wednesday. If it is approved, the UK will leave the bloc on 22 May. If it is voted down for a third time, the nation will have only until 12 April to either leave without a deal or seek another extension. On Monday, the Commons will debate the neutral motion which accompanied the Government’s statement on Friday 15 March. In addition, Parliament is likely to pass an amendment which would allow MPs to take charge of parliamentary time on the afternoon of Wednesday 27 March. That would allow MPs to hold ‘indicative votes’ in order to identify an alternative Brexit path if a third meaningful vote on Prime Minister May’s deal fails. The situation is fluid as the exact timing and details of the votes can vary at the last minute. Meanwhile, the latest print of the German IFO Business Climate Index should continue the subdued trend of recent months. The index has declined in the last year, in line with developments in other economic activity surveys, such as purchasing managers indices (PMIs). The index declined to 98.5 in February, from 99.3 in January. It is now running well below its cyclical high of 104.8 in November 2017 and is close to its long-term average of 97.6.