LONDON (Reuters) - Sterling tumbled towards $1.21 on Tuesday as growing concerns about the chances of a disorderly Brexit spurred investors to hedge or slash their exposure to British assets. FILE PHOTO: Pound coins are seen in this photo illustration taken in Manchester, Britain September 6, 2017. REUTERS/Phil Noble/File Photo The pound, its fortunes tied to the years-long process of negotiating Britain’s exit from the European Union, is suffering from signals of panic among investors that the UK is headed for a no-deal Brexit under new Prime Minister Boris Johnson. Financial markets had regarded that eventuality, which many economists believe would severely damage the British economy, as relatively unlikely. The British currency has now shed around 2.4% of its value since Johnson took over last week and is headed for its worst monthly performance since October 2016, not long after the country voted to leave the EU. Sterling traded as high as $1.32 in May. “The … [Read more...] about Sterling slides again amid scramble to price no-deal Brexit
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The frontrunner in the race to be Conservative leader and prime minister, Boris Johnson, is one of the UK's most recognisable politicians.But that high profile - built up as an MP, London mayor and foreign secretary - has often seen his achievements accompanied by controversy.Becoming an MPAs editor of the Spectator magazine and a Have I Got News For You contestant, Boris Johnson was already well known for his shambolic persona. In 2001, he became an MP, replacing Michael Heseltine in the safe Conservative seat of Henley-on-Thames.Gay rightsHe was considered more liberal than many Tories. As a journalist, he had questioned the repeal of laws banning the promotion of homosexuality by local authorities. But as an MP, he changed tack and said the state should not interfere in people's lives. He also voted in favour of civil partnerships. Mr Johnson continued to attract controversy.In October 2004, then Conservative leader Michael Howard ordered him to visit Liverpool to apologise for a … [Read more...] about Boris Johnson: What’s his track record?
Boris Johnson’s flirtation with dishonesty has cost him at least three jobs and damaged his standing with the people of Liverpool and London. The Conservative frontrunner is now facing a possible private prosecution for intentionally misleading voters during the EU referendum campaign. And while he once told The Independent that his mistakes “are too numerous to list in full”, here is our roundup of his seven most notorius untruths. We’ll tell you what’s true. You can form your own view. From 15p €0.18 $0.18 USD 0.27 a day, more exclusives, analysis and extras. Subscribe now The made-up quote Boris Johnson was sacked from his job at The Times newspaper over allegations he fabricated a quote from his godfather, the historian Colin Lucas, for a front-page article about the discovery of Edward II’s Rose Palace. “The trouble was that somewhere in my copy I managed to attribute to Colin the view that Edward II and Piers Gaveston would … [Read more...] about Boris Johnson’s most infamous lies and untruths
Some proponents of a second Brexit referendum argue that the first was problematic because of the huge number of demonstrably false claims made during the course of the campaign. Here are some of the most notorious and patently false claims made by both sides of the debate. 1 ‘Absolutely nobody is talking about threatening our place in the single market’ – Conservative MEP Daniel Hannan This claim, repeated by economically liberal Brexiteers, was demonstrably false – Theresa May has now committed to taking the UK out of the single market, a point explicitly repeated on Friday by Downing Street. Following the referendum Oliver Norgrove, a former Vote Leave staffer, who supports staying in the single market, urged people to check the official campaign’s website and official literature – noting that the things they had campaigned for were “utterly achievable in the EEA and make no mention at all of leaving the single market”. 2 … [Read more...] about All the false claims made during the EU referendum campaign
From the point of view of those outside Britain, Brexit must look like a mess. And how it looks is how it is. A mess. As a longtime Labour Party politician and a member of Parliament since 2010, I believe the only way out is through another referendum.Now, I can imagine that people might wonder, having had our politics turned upside down by a ballot measure, why anyone would think another one is wise. The reason is that the 2016 Leave campaign was inherently contradictory. Brexiteers argued that by voting to sever itself from the European Union, Britain could retreat from the world’s challenges. Yet they also promised that Britain, on its own, could be a world-leading power and economy.For some on the right of British politics, the answer to the world’s challenges is Donald Trump–style isolationism and protectionism. The Leave campaign exploited the refugee crisis to drum up fears of mass migration to the United Kingdom. The leading Brexiteer and former Foreign … [Read more...] about Let’s Have Another Brexit Vote