UK Politics – Page 2 – Since the Brexit

Markets Continue to Drop in Wake of Brexit – But Not as much as Expected

June 27, 2016June 27, 2016 admin£350 million, bregret, Brexit, farage, IDS, sturgeon0 comment

The markets continued to drop in early trading on June 27 following the Brexit referendum. Although the massive drops predicted in the early hours after the vote has yet to materialize, the Pound is trading at its lowest level against the US dollar for about 30 years, and the FTSE is a further 2% down compared to the Friday closing level, and is now trading dangerously close to the 6,000 points mark. It is being speculated that the – after all – less-than-expected fall is in part due to increasing doubts over whether the UK will actually…

UK Politics

Labour Meltdown as Benn Sacking Triggers Domino Effect

June 26, 2016June 26, 2016 adminbenn, Brexit, corbyn, resignation, shadow cabinet0 comment

A meltdown is taking place in Labour’s Shadow Cabinet today, as the sacking of Shadow Foreign Secretary Hillary Benn triggers resignations by several key members of Jeremy Corbyn’s team. According to media reports, Benn was sacked in a midnight phone call, after he had apparently tried to rally support for a Shadow Cabinet revolt against leader Jeremy Corbyn during the Saturday. Corbyn has long been considered a lukewarm supporter of the EU, and he has been conspicuously absent for much of the campaign leading up to the June 23 Brexit referendum.…

European Commission UK Politics

Second Casualty: UK Commissioner Quits

June 25, 2016June 26, 2016 adminBrexit, commissioner, resignation0 comment

Jonathan Hill, former leader of the House of Lords, has turned in his resignation as the UK Commissioner in the European Commission in the wake of the UK Brexit referendum. As the European Commissioner responsible for Financial Stability, Financial Services and Capital Markets Union, Hill was considered one of the most influential and important members of the Juncker commission. According to The Guardian, Hill’s departure “became a foregone conclusion after the vote for Brexit, because many European politicians oppose having a Briton in charge of financial services when the UK…

UK Politics

First Casualty: David Cameron

June 25, 2016June 25, 2016 adminBrexit, David Cameron, Downing Street, PM, Renegotiation0 comment

British PM David Cameron became one of the first known casualties of the Brexit vote as, in the morning of June 24, he informed the Queen and the public of his intention to stand down as Prime Minister of Great Britain and Northern Ireland. He will remain in place, however, until the Conservative Party conference in Birmingham on October 2-5, 2016, where his successor is likely to be announced. The date of the Brexit referendum was announced by Cameron in February 2016 following a lengthy process of renegotiation with the EU. In…