Osborne Rules Himself out of Race to Succeed Cameron

Chancellor George Osborne ruled himself out of the running to succeed Conservative Prime Minister David Cameron on Monday, citing his fierce advocacy of staying in the European Union.

The government is under pressure to fill a vacuum left when Cameron announced he would resign by October after Britain ignored his advice and voted to leave the 28-member bloc in last week’s referendum.

“It isn’t in my nature to do things by half-measure, and I fought the referendum campaign with everything I’ve got. I believed in this cause and fought hard for it,” Osborne wrote in the Times newspaper.

Reuters

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 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 BNN. 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.
Craig Erlam