Pound Tumbles As Theresa May Faces Leadership Challenge Over Brexit Chaos

By Tyler Durden

It might be a modest exaggeration it to say that Theresa May’s position as Prime Minister is doomed, but that is the general direction as the newsflow for the British PM remains overwhelmingly bad. Scandals aside, May seems to be falling into the growing gulf between Conservative MPs who are pushing more strongly for a “hard” Brexit as negotiations with the EU founder and those who are increasingly alarmed at the prospect, making them more desperate to ensure a softer Brexit.

After Theresa May delivered her “disastrous” conference speech in Manchester on 5 October 2017, there was press speculation that between 30-35 MPs in her party were prepared to sign a letter supporting a no confidence vote in the Prime Minister. Since then, we’ve seen the resignation of two of her ministers due to different scandals, continued party infighting and lack of progress on Brexit negotiations. And, according to articles in the weekend press, this number of party rebels has risen to forty, leaving her eight short of facing a potential leadership challenge if she lost a no confidence vote. From Sky News:

Forty Conservative MPs are reportedly prepared to sign a letter of no confidence in Theresa May, amid …read more

Source:: ZeroHedge