Government

UK Prime Minister Theresa May to Resign June 7

  • UK Prime Minister Theresa May to Resign June 7

Following failure to successfully reach an agreement with the European Union amid Brexit chaos, the Prime Minister of the United Kingdom, Theresa May, has announced her resignation effective from June 7th.

Mrs. May on Friday admitted that a different leader was necessary to bring the people together due to the numerous fractions and disagreements caused by Brexit negotiations.

“To succeed, he or she will have to find consensus in Parliament where I have not,” Mrs. May said. “Such a consensus can only be reached if those on all sides of the debate are willing to compromise.”

I will shortly leave the job that it has been the honour of my life to hold. The second female prime minister but certainly not the last. I do so with no ill will, but with enormous and enduring gratitude to have had the opportunity to serve the country I love.

The division between Conservative lawmakers and the opposition Labour party have grown more hard-line in the last three years and forced many Conservative lawmakers to now favour leaving the European Union without a deal. A move opposed by the majority in Parliament and experts warns it could hurt the world’s fifth largest economy severely.

Prime Minister May will remain in office until her successor is chosen and meet President Trump when he visits next month.

Brexit negotiation will be suspended until a new leader is chosen. The former foreign secretary and a hard-line supporter of Brexit, Boris Johnson has indicated interest in the race to Prime Minister.

“We will leave the E.U. on Oct. 31, deal or no deal,” Mr. Johnson told an economic conference. “The way to get a good deal is to prepare for a no deal.”

The Labour Leader, Jeremy Corbyn, said May’s resignation is the validation of the people that she and her divided party can not govern.

Mr. Corbyn said she had “now accepted what the country has known for months: She cannot govern, and nor can her divided and disintegrating party.”

President Trump on Friday said Theresa May is a strong woman and he will be meeting her next month in the UK.

“I feel badly for Theresa. I like her very much. She is a good woman. She worked very hard,” Trump said.

“She is very strong. She decided to do something that some people were surprised at. Some people weren’t. It’s for the good of her country. But, I like her very much. In fact, I’ll be seeing her in two weeks.”

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Discordant Tunes Greet 50% Tariff Hike As Subscribers Threaten To Sue NCC

Nigerians have expressed displeasure over the decision of the Nigerian Communications Commission to increase tariffs…

9 hours ago

Beatrice Ekweremadu Returns to Nigeria After Serving Sentence in UK

Mrs. Beatrice Ekweremadu, wife of former Deputy Senate President Senator Ike Ekweremadu, has reportedly returned…

9 hours ago

Nigeria Expands Refining Capacity with MRO Energy’s Delta State Refinery

The Federal Government has taken another step toward boosting Nigeria’s refining capacity with the approval…

9 hours ago

Eko DisCo Set for Transformation as Transgrid Enerco Signs Historic 60% Acquisition Agreement

Transgrid Enerco Limited has signed a Share Purchase Agreement (SPA) to acquire a 60% equity…

10 hours ago

Metering Gap Exceeds 7 Million Despite Multilateral Loans and Government Funds

Despite interventions by the Federal Government and multilateral lenders amounting to over N1.5 trillion, Nigeria’s…

11 hours ago

Petrol Prices Surge to N990 in Abuja, N960 in Lagos as Oil Tops $80 Per Barrel

The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol at…

12 hours ago