Labor leader Jeremy Corbyn has signaled that he may call a no-confidence motion against Boris Johnson when parliament resumes work in September. In doing so, it will aim to prevent the Prime Minister from bringing the UK out of the EU without a deal. He will have to act quickly if he wants to overthrow the government or force him to abandon the no-deal Brexit idea before October 31st.
The European Union is closely following the situation in London, with pressure on Boris increasing. He wants the deal to be renegotiated, but he is also preparing for a worse case scenario. The EU will expect the UK Parliament to block Boris' intention to leave without a deal.
At the moment, everyone is in the trenches, and neither party intends to back down. If Labor wins the no-confidence vote, which can take place on September 4, Johnson will have 14 days to regain control of the House. If it fails, it will have to call snap parliamentary elections.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.