financetom
News
financetom
/
News
/
Brexit mayday? PM May's ministers move to oust her
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Brexit mayday? PM May's ministers move to oust her
Mar 24, 2019 2:24 AM

British Prime Minister Theresa May's top ministers are moving to oust her within days, The Sunday Times reported, as her Brexit strategy lay in tatters just weeks before the United Kingdom was due to leave the European Union.

If May is toppled, Brexit would be thrust into doubt. It is unclear how, when and even if the United Kingdom will leave the EU.

May, who voted to stay in the EU and won the top job in the chaos following the 2016 referendum, had vowed to deliver Brexit but she undermined her premiership with a botched snap election in 2017 which cost her party its parliamentary majority.

The Brexit divorce deal she struck with the EU in November has been overwhelmingly rejected twice by British lawmakers.

The Sunday Times cited 11 unidentified senior ministers and said they had agreed that the prime minister should stand down, warning that she has become a toxic and erratic figure whose judgment has "gone haywire".

"The end is nigh. She will be gone in 10 days," the Sunday Times quoted an unidentified minister as saying.

"Her judgment has started to go haywire. You can't be a member of the cabinet who just puts your head in the sand," the newspaper cited a second unidentified minister as saying.

The Sunday Times reported that May's de-facto deputy, David Lidington, is one contender to be interim prime minister but others are pushing for Environment Secretary Michael Gove or Foreign Secretary Jeremy Hunt.

The newspaper said cabinet ministers would confront May on Monday. If she refuses to go, ministers would threaten to resign.

The Mail on Sunday reported that Gove was the consensus candidate among cabinet ministers who believe Lidington is too pro-EU. But eurosceptic lawmakers also expressed scepticism about the Leave-backing Gove.

"I’m advised (Michael Gove) would also go for Customs Union plus single market with Labour votes," Steve Baker of the eurosceptic European Research Group (ERG) said.

"Problems with that... Next."

The Sunday Telegraph reported that former education minister Nicky Morgan, who voted remain, was popular among several prominent pro-Leave lawmakers as a "unity candidate" to succeed May.

May's office declined to comment on the reports.

Earlier a Downing Street source, speaking on condition of anonymity, told Reuters that a Saturday Times report that there were discussions in May's office about her departure was incorrect.

Betting odds indicate there is now a 20 percent chance that May will be out of her job by the end of this month, Ladbrokes said on Saturday.

Brexit had been due to happen on March 29 before May secured a delay in talks with the European Union on Thursday.

Now a May 22 departure date will apply if parliament rallies behind the British prime minister next week and she is able to pass her deal. If she fails to do so, Britain will have until April 12 to offer a new plan or decide to leave the European Union without a treaty.

First Published:Mar 24, 2019 10:24 AM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Dollar tumbles to two-week lows ahead of US growth data
Dollar tumbles to two-week lows ahead of US growth data
Apr 25, 2024
Dollar fell in European trade on Thursday against a basket of major rivals, resuming losses and plumbing two-week lows as demand slowed down and risk appetite rebounded. Now markets await important US growth data later today for the first quarter of the year, which will help determine the likely path ahead for US interest rates. The Price The dollar index...
USD/JPY Breaches ‘Line in the Sand’ Ahead of BoJ Meeting
USD/JPY Breaches ‘Line in the Sand’ Ahead of BoJ Meeting
Apr 25, 2024
Japanese Yen (USD/JPY) Analysis The yen breaks into the danger zone ahead of the BoJ meetingUSD/JPY breaches line in the sandBoJ Governor Ueda still sees trend inflation below target, will the updated forecast bring the inflation objective closer?Elevate your trading skills and gain a competitive edge. Get your hands on the Japanese yen Q2 outlook today for exclusive insights into...
Euro scales 16-year peak against yen
Euro scales 16-year peak against yen
Apr 25, 2024
Euro rallied in Asian trade on Thursday against the yen, extending gains for the fifth straight session, and hitting 16-year highs after trading above 166 yen for the first time since 2008. The yen is suffering from the persistent interest rate gap between Europe and Japan, which will likely remain fixed for an extended duration. EUR/JPY EUR/JPY rose 0.5% to...
Yield Curve Inversion and its Economic Implications
Yield Curve Inversion and its Economic Implications
Apr 25, 2024
Yield Curve Inversion and its Economic Implications Yield curve inversion occurs when short-term debt instruments have higher yields than long-term instruments of the same credit quality. In the United States, this typically refers to the relationship between the yields of US Treasury bonds with different maturities. When the yield curve inverts, it shows that investors are willing to accept lower...
Copyright 2023-2025 - www.financetom.com All Rights Reserved