George Osbourne is on the wires, stating that a pro-remain candidate could become the new leader of the Tories. With the deadline for the election of a new leader of the British Conservative Party tentatively set for the 2nd of September, uncertainty about the status of the United Kingdom in the European Union is likely to last throughout the summer months.
There are a number of candidates, with the top Brexit advocates Boris Johnson and Michael Gove being joined in the race by Theresa May. With the former two leading the ‘leave’ camp’s effort, all eyes of the ‘Stop Boris’ movement within the Conservative Party are set on Theresa May. The leaders of the ‘leave’ campaign have suffered immensely in recent days after their claims that the immediate impact of the vote will be minimal were outright wrong.
FXTM Recruits Financial Broadcaster Han Tan to its Market Research TeamGo to article >>
With the European Union taking a hard line, the efforts of the UK government to maintain a favorable trade deal are likely to meet material resistance from the European Union.
For the Tories, electing a pro-remain leader is probably the only way they can prevent a snap election going forward. With an outcry from the Scottish National Party, opposition from Labour and a starkly divided Conservative party, Theresa May could be the only choice that keeps this parliament together.