- MarketPulse - https://www.marketpulse.com -

UK Prime Minister Loses Snap Election But Fights Back Against Brexit Extension

U.K. Prime Minister Boris Johnson has lost a second bid to hold a snap election, making it more likely that he will have to ask the EU for an extension to the current Brexit deadline.

Only 293 out of 650 lawmakers in the lower house of parliament supported the government’s proposal — falling short of the two-thirds majority, or 434 votes, the government needed.

The vote early Tuesday morning was the second time in a week that lawmakers turned down Johnson’s request for an early election. Parliament has been suspended for five weeks and lawmakers will return on Oct. 14.

Addressing the parliament after the result, Johnson said: “This government will not delay Brexit any further.”

He vowed that the government will “press on with negotiating a deal, while preparing to leave without one.”

“I will go to that crucial summit on October the 17th and no matter how many devices this parliament invents to tie my hands, I will strive to get an agreement in the national interest,” Johnson added.

via CNBC [1]

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 [6]

Senior Currency Analyst at Market Pulse [7]
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
Alfonso Esparza

Latest posts by Alfonso Esparza (see all [6])