Credit: Shutterstock photoTh ere is a story that a new MP arrives in parliament and sits next to an old hand. The old hand tells him to look across the center aisle and tells the new MP those people over there are the opposition. He then says to look to your immediate left and right and says, now these are you enemies.
There are press reports today that supporters of Theresa May, who is currently in the lead to be the choice of Conservative MPs to be the next party leader, are plotting to support Michael Gove in the next round of balloting to keep Andrea Leadsom off the final party ballot. Andrea Leadsom, a Brexit “leave” supporter is seen as possibly a stronger challenger to May when the final vote is thrown up to the Conservative Party as a whole. The strategy would be for some May supporters to vote for Gove so he could get enough votes surpass Leadsom so she would be eliminated from the final ballot. The candidate with the least number of votes in each round of balloting is eliminated.
The theory is that Gove would be a weaker candidate against May, who supported the “Stay” camp in the Brexit vote. Many “Leave” supporters express concerns that a “Stay” supporter can successfully negotiate an exit from the EU. The May side claims that she was only a “soft” Stay supporter. It is reported that Mike Penning, minister for policing and a May supporter, was forced to deny that May backers are plotting to keep Leadsom off final the ballot by throwing support to Gove.
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The second round of balloting will be on Thursday, July 7 between Theresa May, Andrea Leadsom and Michael Gove. The two top candidates, who get the most number of votes from Conservative Party MPs, will then be presented to the road Party membership (150,000 Members) for a vote over July and August. The winner will likely be the next British Prime Minister.
Selecting May over Leadsom could be seen as a betrayal by the Leave camp as it would be an attempt by the establishment to reassert control over the reins of power. There are worries that May will not press hard enough for U.K. independence from the administrative powers of the EU which are seen as arbitrary and undemocratic by many of U.K. voters.
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John M. Bland
Globval Traders Association
www.tradersadvocate.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
