Regardless of the result, if May goes ahead with the meeting, it would represent a major capitulation from May, who has steadfastly insisted for two years now that the UK would leave the EU on time.
While the prospect of Parliament authorizing another vote remains unlikely, Corbyn's support could embolden pro-European MPs in both parties to push harder for a delay of "Brexit Day", something that Prime Minister Theresa May is desperately trying to avoid.
And though Corbyn said that he would support the referendum vote to avoid a "damaging Tory Brexit" and accused May of "recklessly running down the clock" to force the adoption of a "botched deal", Corbyn's decision to embrace another referendum vote - something he has long opposed - was widely interpreted as self-serving, as the New York Times reported, because Corbyn had been warned that he might face another round of resignations if he didn't support the referendum.
Supporters of a second vote argue that, given the current Brexit deadlock, it would be fair and totally respectful of those who voted "leave" in the 2016 referendum to put the choice to the people again now that they have seen what a fumbling mess the negotiations over a managed withdrawal have become, as RT pointed out. If another referendum should be called, Labour would campaign for "remain."
If anything, this concession by the notoriously eurosceptic Corbyn proves one thing: That May isn't the only leader struggling to get her arms around a burgeoning mutiny as talks with the EU yield little progress and the days left until Brexit Day dwindle.