Is The British Pound Still Falling? Election Brings Uncertainty To English Currency

“We don’t really think she has a mandate to now, she’s really made a fool of herself and really, quite frankly, she should step aside and let us have a go”.

May said Brexit talks would begin on June 19 as scheduled, the same day the British parliament is due to reconvene. The pound lost more than 2 cents against the dollar.

The voters left no party with a majority in parliament with the Conservatives winning 318 seats, but managing to remain the biggest single victor, while the Labour party won 261 seats out of the 650 parliamentary seats. May’s party won 318 seats, 12 fewer than it had before May called a snap election, and eight short of the 326 needed for an outright majority.

May announced later that Gavin Barwell – a former housing minister who lost his seat in Thursday’s election – would be her new chief of staff.

“We’re still saying quite clearly that we would be ready to take over if Theresa May cannot cobble something together, and we’re very doubtful that she can”. “And our leader needs to take stock as well”. Neither a Conservative party coup against May nor a left-wing coalition led by Jeremy Corbyn’s Labour, possibly after a new election, seems likely to deliver that.Second, it would have to overturn a British legal opinion that the request to leave under Article 50 can not be revoked.Third, it would need the European Union to agree, most likely by unanimous vote of all 27.

Those flaws were skilfully exploited by Labour leader Jeremy Corbyn, a veteran grassroots activist who hammered away at May as cold and uncaring.

“The arguments the Conservative Party put forward in this election have lost, and we need to change”.

Nicky Morgan, who was sacked as education secretary by May, said: “I’m reeling”. Although final figures are not yet in, pollsters estimate that this outcome was the result of a surge of youth turnout that reached nearly 70 percent.

“The right can throw money at elections – we throw people”, Uyterhoeven added.

As she was resoundingly re-elected to her Maidenhead seat in southern England, May looked tense and did not spell out what she planned to do. That said, the Conservatives are aware of the dangers of electing a new leader or risking a further election.

Many predicted she would soon be gone.

MPs are already said to be sharpening their knives for Mrs Mrs with one describing her as “f****d, and deservedly” for her shocking campaign. We saw this all before with John major.

In 2010, the Liberals entered a formal coalition with the Conservatives after the election – a fraught decision that resulted in the near annihilation of the parliamentary Liberal party in 2015.

But speaking Friday on Europe 1 radio, he said “the tone” of negotiations may be affected.

But EU officials question how any British government could persuade voters to accept a Norway-style package and so would be wary of starting down the path of negotiating it for fear of ending up without a deal that both sides could ratify in 2019.

“Without a government, there’s no negotiation”, he said Friday morning by phone on Germany’s Deutschlandfunk radio. As the polls suggested a tightening race, pollsters spoke less often of a landslide and raised the possibility that May’s majority would be eroded. Each seat in Parliament represents a constituency (a district). Corbyn accused the Conservatives of undermining Britain’s security by cutting the number of police on the streets. Two weeks earlier, a suicide bomber killed 22 people as they were leaving an Ariana Grande concert in Manchester.

“It’s a bit of a mess”, Peter Morgan, 35, said in London. “We know when they must end”, tweeted European Council President Donald Tusk, also the EU summit chair overseeing the negotiations.

Steven Fielding, a professor of politics at the University of Nottingham, said Britain had seen an election “in which the personal authority of a party leader has disappeared in an unprecedented way”.

About 44 percent of British goods and services flow to the European Union tariff-free, but that link comes at the price of allowing free movement of European Union workers into the country and letting the continent’s courts have a say in British laws.

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