Theresa May under fire over Brexit new deal failure ahead of EU elections
The British Prime Minister is under increasing pressure to announce her departure from Downing Street after her fourth attempt of getting her Brexit deal passed has failed as EU elections get underway.
UK lawmakers are calling on the British Prime Minister Theresa May to set a date for her resignation after her new Brexit deal failed in parliament on Wednesday.
May’s latest failure to get her deal approved by British MPs comes ahead of EU elections, with UK citizens votes on Thursday expected to highlight how deeply divided the country remains over Brexit.
How will the Brexit deadlock be broken?
With the prime minister’s fourth attempt to break the deadlock deemed dead on arrival, British MPs are left to ponder an array of alternative options that includes holding a general election, a second Brexit referendum or bailing out of the bloc without a deal.
In the three years since the UK voted to leave the EU 52% to 48%, the country is no closer to leaving, with it still unclear how, when or even if Britain will leave the bloc ahead of the October 31 deadline.
Boris Johnson bookmakers’ favourite to succeed May
As the calls for May to step down grow louder, people have begun to place their bets on who will take her place, with bookmakers’ clear favourite being MP Boris Johnson.
Johnson was a prominent figure for the leave campaign in the build up to the Brexit referendum back in June 2016.
In a recent report, US-based investment bank JP Morgan raised its probability of the UK leaving the EU without a deal from 15% to 25% this week.
The bank also believes Johnson will be appointed prime minister, closely followed by a general election and a further delay to Brexit beyond the October 31 deadline.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Live prices on most popular markets