Johnson’s Star Wanes With Osborne as Brexit Tears Tories Apart

For George Osborne and Boris Johnson, the European Union referendum provided a potential arena to further their ambitions to succeed David Cameron as prime minister. It may instead have cut them short.

The chancellor of the exchequer, the government’s key strategist in its push to keep Britain in the EU, has faced criticism for using the Treasury to support a campaign dubbed by opponents “Project Fear.” Former London Mayor Johnson, the highest-profile campaigner for a so-called Brexit, has also seen his credibility take a blow, as he struggles to make his mark as a serious politician.

With both sides swapping accusations and insults, the campaign has split the Conservative Party down the middle. Speculation of a challenge to Cameron’s leadership in the event of Brexit –- or even after a close result — has risen, and the prime minister has confirmed he won’t be seeking a third term.


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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.