UK: Pressure mounting on May to resign – Danske Bank
|Jakob Christensen, chief analyst at Danske Bank, points out that yesterday, pressure mounted on UK PM Theresa May to step down on the back of her renewed bid to find a majority for her Withdrawal Agreement.
Key Quotes
“A senior Cabinet member, Andrea Leadsom, resigned, saying she no longer believed the government’s approach will honour the result of the 2016 referendum. Later in the day, the powerful, so-called 1922 Committee of rank-and-file Conservatives, which oversees leadership elections, decided not to change the rules, but Committee chairman Graham Brady said after the meeting that he will meet with Theresa May tomorrow after the European elections.”
“If Theresa May decides to step down, it opens the opportunity for a more pro-Brexit conservative leader, although such a process may only be completed in autumn. Hence an extension of the 31 October deadline with the EU may be needed, although uncertainty remains high about the potential different scenarios at the moment.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.