Chaos Awaits Besieged Cameron No Matter What the Brexit Result

May 31, 2016 Share Print 0

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

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.