Nicholas Hastings has written insightful analysis of breaking news, the financial markets and global political and economic developments since 1981, including a daily column on the foreign exchange markets for much of the last 20 years.
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Recent political events have added an extra sense of drama to current events; David Cameron has become the first prime minister in British history to lose a referendum and, therefore, is also the first to be forced to resign as a outcome. Top of her agenda will be triggering Article 50 of the Treaty of Lisbon and beginning negotiations over Britain’s departure from the EU.
“I don’t think it’s possible to say that there is an absolute deadline [for Article 50 to be invoked]. And then we looked forward to getting back to work”, the leading Brexit campaigner told Sky News.
Given that the Article 50 process lasts two years – and can be extended if deemed necessary – it looks as if Britain won’t actually leave the European Union until at least 2019. “We’ll do it right, we’ll do it in a proper way, we’ll do it when we’re ready”.
“In the coming weeks I will set out (how) to take our economy through this period of uncertainty, to get the economy growing strongly across all parts, to deal with Britain’s long-standing productivity problem, to create more well-paid jobs, to negotiate the best terms for Britain’s departure from the European Union and to forge a new role for ourselves in the world”, she said.
Tomorrow evening, Theresa May will become the second female British Prime Minister after a turbulent three-week period since the European union referendum saw the United Kingdom vote to leave the European Union (EU).
Even if the last couple of weeks have been some of the most chaotic in recent British political history, the Brexit referendum vote is if nothing else a sign that democracy is alive and kicking in the UK.
It is due to announce on Thursday whether it will cut its key interest rate, which has remained at 0.5 per cent for more than seven years, or take other action.
“Recession is now our base case”, Richard Turnill said.
But when Energy Minister Andrea Leadsom unexpectedly pulled out of the race Monday, leaving only May, the home secretary, still in the running, Cameron announced that he would swiftly make way for the incoming leader. Thatcher was elected prime minister in 1979. “She had a very clear sense of long-term direction as well as the capacity to do the detail”, Conservative lawmaker Damian Green told Reuters of his time working as a junior minister in her department. She has already been likened to Germany’s Ms Merkel for her cautious, low-key style. “She’s strong, she’s competent, she’s more than able to provide the leadership our country will need in the years ahead”.
Among her first acts will be to name a new cabinet which will need to find space for some of those who campaigned successfully on the opposite side of the referendum.
“I am honored and humbled to have been chosen by the Conservative Party to become its leader”, said May, who favored remaining in the European Union but has made clear there is no going back on the result of the June 23 referendum.
Local Conservatives in West Cumbria have welcomed the election of Theresa May, the longest-serving Home Secretary for a hundred years, as Leader of the Conservative Party on Monday and Prime Minister from Wednesday 13th July.
“A vision of a country that works not just for the privileged few, but that works for every one of us”. Calling for a “proper industrial strategy”.
“For me it’s bigger than the Conservative party”, she said.
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“We will have hard negotiations with Britain, it will not be easy”, Merkel told conservative supporters in eastern Germany on Monday.
