Take Five: From the end of Britain's Theresa May to the China-U.S. trade dispute. Here are big themes likely to dominate thinking of investors in the coming week
British Prime Minister Theresa May leaves after delivering a statement in London, Britain, May 24, 2019. REUTERS/Toby Melville
Theresa May stepped into 10 Downing Street in July 2016 with the express aim of taking Britain out of the European Union. She will depart as prime minister this summer having failed in that ambition. No one can say she didn’t try — after three attempts to get her EU withdrawal bill through parliament, she finally had to admit it was dead in the water.
Speculation about her departure has been rife all month. Now it’s wait and see if her successor will fare any better with the withdrawal deal, or if he or she steers Britain towards a no-deal Brexit. What’s clear is that risks of crashing out of the EU without a transition period have risen, given the eurosceptic Boris Johnson is favourite to succeed May. The other risk is a new election, and possibly, a hung parliament.
May will remain in charge as the Conservatives elect a new leader. Her last task as prime minister — welcoming U.S. President Donald Trump to Britain — will hopefully be easier than trying to deliver Brexit.
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