|

Tories Reject Rules Change But Ask May to Clarify When She Will Stand Down

News out of the UK is a mixed bag but Theresa May did survive another leadership challenge, unfortunately.

The Guardian Live Politics Blog has more details.

  • Theresa May is facing demands from the executive of the Conservative backbench 1922 Committee - the “men in grey suits” of Tory folklore - to explain when she will resign if she fails to pass a Brexit deal. She has already promised to quit if MPs pass the withdrawal agreement, but now senior Tories want a timetable for her departure if the Brexit deadlock continued. Sir Graham Brady, the 1922 Committee chairman, set out his committee’s latest demand as he confirmed that it was rejected calls for the rules to be changed to allow an early no confidence vote in May. Under current rules MPs cannot trigger a new no confidence ballot until December, 12 months after the last one, but some members of the executive committee of the 1922 wanted this rule changed to allow a challenge much sooner.
  • Nicola Sturgeon is to introduce new legislation to stage a second Scottish independence referendum, claiming one must be held by May 2021 if Brexit goes ahead.

Theresa May responded: “As we have been repeatedly clear, Scotland already had an independence referendum in 2014, and voted decisively to stay. Both sides need to respect the result of that referendum.

Respect the Referendum! Yes, indeed.

Irony and Hypocrisy

  • The British people voted to leave the EU. The vote to do so would have been overwhelming were it not for Scottish citizens overwhelmingly voting remain.
  • Now May tells Nicola Sturgeon, the First Minister of Scotland there already was a vote, when May will not honor the Brexit vote itself.

Meanwhile, the talks between Theresa May and Labour leader Jeremy Corbyn have not been going well.

Neither side trusts the other. And why should they?

May has lied countless times and Corbyn's only goal is to have an election.

Author

Mike “Mish” Shedlock's

Mike “Mish” Shedlock's

Sitka Pacific Capital Management,Llc

More from Mike “Mish” Shedlock's
Share:

Editor's Picks

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.
 

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.