Allianz GI / Victory for Prime Minister Boris Johnson’s Conservative party in the UK general election is likely to be welcomed by markets and potentially boosts prospects for the UK economy. It doesn’t, however, end the Brexit uncertainty overnight – and the UK continues to be vulnerable to a late-cycle global environment.
Peter Isackson via Fair observer | Though Steve Bannon’s English hero, Boris Johnson, is (momentarily) in charge of the chaos in the UK, his Italian champion, Matteo Salvini, is out.
Olivia Álvarez (Monex Europe) | Driven by concerns about a no-deal Brexit, in less than a week, the pound sterling has fallen more than 2.7% against the euro, reaching its lowest levels in the last two years.
Shaun Riordan | Prime Minister, You enter office in the middle of the UK´s greatest peacetime crisis. Your optimism and can-do spirit are admirable. You will need to be decisive. But your actions need to be based on reality not fantasy, especially in relation to Foreign policy, on which this Memorandum focuses…
Shaun Riordan | Boris Johnson will fulfill his life-long ambition of becoming Prime Minister this afternoon. The pro-Europeans within his own Conservative Party have postponed their rebellion until after the summer. Mrs May will therefore be able to recommend Johnson to the Queen as the political leader best placed to secure a majority in the House of Commons, and therefore best able to form a new Government. But that majority is wafer thin. Even with the support of the N Ireland Unionists, his overall majority is only three. That is likely to be reduced to two following an upcoming by-election. Up to twenty Conservative MPs have indicated they could be ready to bring down the Government to avoid a no deal Brexit.
Peter Isackson via Fair Observer | Boris Johnson’s march to Downing Street is becoming a surreal, even psychedelic, cartoon hovering between tragedy and farce.