Hello and welcome to the Intelligence on Economist Radio. I'm your host, John Prado, in

For Jason Palmer. Every weekday we provide a fresh perspective on the events shaping

your world. Thailand is about to hold its first election since the military seized power

five years ago. The only hitch is that the generals are trying to influence the outcome

and anyone who criticises the ruling royal family can be thrown in prison.

And we have the answer to a question often asked of economist journalists. Namely, is it

possible to use dance music to age whiskey? We take a sip.

Last night in Brussels, European leaders rejected British Prime Minister Theresa May's request

to extend Britain's departure from the EU by three months. Instead, they came up with

a plan that spares Britain from crashing out of the EU next Friday, on March 29th, but

only offers short to reprieve. European Council President Donald Tusk announced the plan.

Our decisions envisage two scenarios. In the first scenario that is if the withdrawal agreement

is passed by the House of Commons next week, the European Council agrees to an extension

until the 22nd of May. But if Mrs. May can't persuade Members of Parliament finally to

vote in favour of the withdrawal agreement, she painstakingly negotiated with the EU, another

scenario kicks in. The second scenario that is if the withdrawal agreement is not approved

by the House of Commons next week, the European Council agrees to an extension until the 20th

of April, 12th of April. While expecting the UK to indicate a way forward.

That timeline would give Britain about two more weeks to decide what to do if it can't

agree a withdrawal deal. If it does not negotiate a further extension, it would legally leave

the EU without a withdrawal agreement on April 12th. The economic consequences of that could

be pretty terrible. Good morning. Mrs. May made a statement after midnight,

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