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Chaos Awaits Besieged Cameron No Matter What the Brexit Result

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Think everything in British politics will calm down once the European Union referendum is over? Think again.

The campaign for the June 23 vote has split the governing Conservative Party down the middle, with implications for Britain’s government whatever the result. The fates of Prime Minister David Cameron and Chancellor of the Exchequer George Osborne are now tied to the outcome. Increasingly caustic exchanges between the opposing sides over the weekend, including three lawmakers openly calling for the prime minister to go, mean that bloodletting in the wider party looks unavoidable.

Most Conservatives are reluctant to speak about the issues on the record, but privately every Tory member of Parliament has a view. After speaking to lawmakers on both sides of the debate, both senior figures and new members, a picture becomes clear: Either way, the referendum legacy looks like it will be a new phase in British politics.

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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