UK Labour Challenger Trying to Stop Article 50

Owen Smith says he will try to stop Theresa May formally triggering Brexit unless she promises a referendum on the final deal or calls a general election to approve it.

The Labour leadership challenger said his party should not give the Tories a “blank cheque” on negotiations.
But rival Jeremy Corbyn said Parliament had to “work with” the result of the referendum.
Ministers said they would deliver on the “decisive” referendum verdict.

The UK voted to leave the EU by 52% to 48% in a referendum on 23 June but the manner and timing of the country’s departure remains uncertain.

The prime minister has said she will not begin the formal legal process of separation by activating Article 50 of the Lisbon Treaty this year, insisting that a “sensible and orderly departure” from the EU will take time.

via BBC

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.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza