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May Stays (For Now) Due To Brexit Uncertainties

Published 06/13/2017, 03:32 AM

Theresa May's meeting with the 1922 committee went very well and it seems she will stay as PM at least until the UK formally exits the EU by the end of March 2019.

The reason is that the party does not want to increase political uncertainty, which is already high as the Brexit clock is ticking.

The Queen's speech is postponed, as no deal between Theresa May and the Democratic Unionist Party has been reached yet.

Brexit negotiations are unlikely to start on Monday but should start later this month.

Brexit Secretary David Davis has indicated that the government will proceed with its hard Brexit approach despite opposition among Scottish Conservatives.

It is still difficult to say what the implications of the election result are for Brexit. It seems like the probability of both a softer Brexit and a clash/no deal Brexit have increased (basically more probability mass in the two tails).

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