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September 15, 2018 | UK Prime Minister Theresa May Will Be Gone Before Christmas

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
The UK’s opposition Labour party Foreign Secretary says May will be gone by Christmas or this Spring at the latest.

Emily Thornberry, the shadow foreign secretary, says Labour Will Vote Against Brexit Deal.

Thornberry told the Financial Times that a deal will not happen, and if it doesn’t, the result will be new elections before Christmas or in the Spring.

Either way, Thornberry says UK Prime Minister Theresa May will not survive the vote.

Curiously, Labour policy is also to take the UK out of the EU unless the EU agrees to six demands that the EU will not agree to.

The alternate scenario is the Tories will hold their noses and back Theresa May even though they do not generally like her or her Brexit strategy.

What complicates the mess is a significant number of Tories want to remain in the EU while another large block of Tories wants a hard Brexit.

The Financial Times notes that Labour’s opposition to the deal means that it would require as few as 10 Tory MPs — from either the party’s hardline Eurosceptic or pro-EU wings — to defeat the government.

This is one of the screwiest political setups I have seen.

Mike “Mish” Shedlock

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September 15th, 2018

Posted In: Mish Talk

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