Hieronder volgt een korte reactie in het Engels van Bart Hordijk, valuta-analist bij Monex Europe, op het feit dat Theresa May overal en in rap tempo politieke vrienden verliest – en wat de gevolgen hiervan zijn voor het Britse pond.
Theresa May is losing friends at a rapid pace and might have to look for friends in the strangest places
Theresa May might never have been known for being the charismatic leader that swept away the electorate, but the pace at which she is currently losing friends is steep, even for her. After the publication of the Brexit White Paper yesterday reactions coming from the Financial sector were harsh, with some even saying this was the worst Brexit that could happen. Losing the support from the financial sector is extra painful for Theresa May, as she always tried to position herself as the defender of the special status of the British financial sector within the European Union and in the future relation between the UK and the EU.
Another potential ally she lost is President Trump who said the way May deals with the Brexit process is “unfortunate” and “will probably kill” any chance on a bilateral deal between the US and the UK. Friends she lost earlier, the hard Brexiteers will smugly wave these latest developments in her face as the papers over the weekend undoubtedly stand ready to provide them with all the printed space needed to point out how much May is straying from the one true Brexit path and how this is already hurting the UK.
Unsurprisingly this was all too much for sterling too handle and cable dropped below 1.32, while GBPEUR also dove below 1.13. The only hope Theresa May has at the moment is to find friends in the strangest places. The European Union may actually throw her a lifeline and make some positive sounds about the contents of the Brexit White Paper, e.g. saying it’s progress in the right direction, because also the EU is well aware that if May loses a leadership challenge, a hard Brexiteer or a Jeremy Corbyn replacing her at the negotiation table is far from an improvement.