Election uncertaint­y clouds outlook for Britain

Dünya Executive - - REPORT - Murat BASBOGA

The decision of British Prime Minister Theresa May to call a snap general election appears to be a massive political miscalcula­tion. The results reported that the Conservati­ve party has lost its overall majority of 12 and created a hung parliament, a distributi­on of seats that does not provide a clear majority for either party. May went into the general election repeating a slogan of “strong and stable” government but the results point to the opposite. The Conservati­ves are likely to try governing as a minority government just before Brexit talks start on June 19. The sterling has suffered against all major currencies, just as it did after Brexit although, understand­ably. As the analysts below argue, the election results created a mixed investment environmen­t for all the market players without a strong and stable leadership.

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