Brexit
Find out what Brexit could mean for the markets and how a hard or a soft exit from the EU could affect traders.
Amid all the Brexit turmoil last week, one anniversary passed with little fanfare outside of Number 10 Downing Street, and probably not with much more inside that residence. Theresa May has now been Prime Minister (PM) of the United Kingdom of Great Britain and Northern Ireland for two years, as of 13 July 2018.
The PM survived the resignation of two senior ministers last week, but it looks possible that her government may struggle to reach the summer recess. In a vote on the Chequers deal on 16 July, the government’s majority was cut to three. Had the vote not passed, a crisis could have ensued. One still might, if enough MPs can oppose any further votes on the white paper agreed by the government.
The best that can be said for Theresa May at present is that no one else really wants the job. Brexiteers and Remainers may carp from the sidelines but who among them would really want to take on the poisoned chalice of steering a Brexit vision through the Commons? And even now, no Conservative really wants to provoke a general election in order to get a new leader; the Conservatives got away with changing their leader once without going to the country, they will not dare try again. The only consolation of a Jeremy Corbyn government would be the fact that the Labour party is just as divided. It is merely the fact that they are in opposition that allows them to evade scrutiny.
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