British election shock complicates Brexit

British Prime Minister Theresa May's gamble in calling an early election backfired spectacularly as her Conservative Party lost

A jovial Jeremy Corbyn has mounted pressure on the Conservatives

Even if the exit poll has underestimated the number of Conservative seats, as it did in 2015, and the party ends up with a slim majority, May will be so weakened that she may not be able to keep her job. The Conservatives secured just 318 seats, not enough to reach the 326 seat threshold for a parliamentary majority.

The Daily Mail led with, "Tories turn on Theresa", and described the prime minister's election campaign as "disastrous" and said the Conservatives had been "plunged into civil war". In light of such a deeply disappointing result, Mrs.

The Conservatives ran a awful campaign, easily the worst I have even been involved with in my 16 years as a party member.

Above all, investors are anxious about the general uncertainty surrounding the country - whether a bruised May will resign in due course, whether the Conservatives will be able to form a new government or whether it will be an alliance of opposition parties, led by the Labour Party.

Mr Corbyn said Labour has won a "huge mandate" to challenge austerity.

Conservative Member of Parliament Anna Soubry was the first in the party to disavow Mrs May in public, calling on her to "consider her position". May, by contrast, appeared shaky, brittle and vague on the campaign trail no matter how often she repeated her "strong and stable" mantra.

From the EU's perspective, the electoral upset meant a possible delay in the start of Brexit talks and an increased risk that negotiations would fail.

An election that May called to strengthen her hand as Britain leaves the European Union ended with her political authority obliterated, her days in office likely numbered and the path to Brexit more muddied than ever. According to The Independent, he "spent weeks urging his followers to get involved in the general election and also sat down with the Labour leader for a discussion about art, politics, and engaging young voters". But then again, May moved her party to the Right, relentlessly hammering home the need to control immigration and cut the deal of all deals with the EU.

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Others predicted she would soon be gone.

It's unclear what role the attacks and their aftermath played in the election result.

He told the Sunday Mirror: 'I can still be Prime Minister. The Times' front page said: "May stares into the abyss".

May said Brexit talks would begin on June 19 as scheduled, the same day as the formal reopening of parliament.

British politicians, including within May's own party, differ widely on what they want from the Brexit negotiating process.

"I don't see how she can be a strong and credible figure now to lead these negotiations", he said.

Samuel Tombs, analyst at Pantheon Macroeconomics, says the pound could drop further, to $1.2600, where it was trading before May announced the election in April.

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