Fractures From ‘Brexit’ Vote Spread Into Opposition Labour Party – The New York Times

This is a historic, outstanding, must-read, lead article from the NYT. The NYT reports on the internal criticism of the Labour Party leader, Jeremy Corbyn, which led to his firing the shadow foreign secretary, and at least 11 other members of the party’s cabinet resigned. The article then explores in detail the current crisis and the possible ways forward. Time and time again the NYT questions whether Brexit will actually happen.

Source: Fractures From ‘Brexit’ Vote Spread Into Opposition Labour Party – The New York Times

For many who voted Remain, there will still be hope that disaster can be averted. But just as there will be hope for some, there will be anger for those who voted Brexit. If financial markets get a whiff that Brexit will not happen, expect massive gains.

Throughout the campaign, leaders of the Brexit side refused to answer detailed questions on planning and risk management – now they pass the issue to the incumbent government. All attention today will be on George Osborne in parliament and whether the UK has any contingency resources – he could signal Bank of England emergency action.

Thoughts?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: