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Johnson Facing Pressure From British Political Spectrum

By Sara Patterson
Sara Patterson has a Master’s Degree in political science and enjoys analyzing both current events and the international markets to get a fuller perspective of the currency market. Before turning to financial writing, she taught English writing skills to high-school age students. Sara’s work has been published on various financial and Forex blogs.

Labour partyThe British Labour Party Head Jeremy Corbyn is meeting with the members of the opposition parties to discuss a plan to stop a no-deal outcome for the Brexit.

In a letter he published on his twitter account Corbyn invited the British opposition PMs to a meeting where they would discuss "all tactics available" to prevent a no-deal outcome. He said that the United Kingdom is going towards a constitutional and political crisis and called his colleagues to meet as soon as possible, right before the parliament returns.

"The chaos and dislocation of Boris Johnson's no-deal Brexit are real and threatening," explained Corbyn in his letter, "that's why we must do everything we can to stop it," he added.

The meeting was set to happen today at 1:00 pm (British time) at Corbyn's office.

Johnson also faces pressure from his right

Boris Johnson is having a phone call with the European Commission President Jean-Claude Juncker. The British PM has been trying to convince the European Leadership to abandon the Irish Backstop clause, which is heavily opposed by the British Parliament. Brussels has declined to answer to Johnson pleas, claiming that the Backstop is the only guarantee to avoid the creation of a hard border between Northern Ireland and the Republic of Ireland.

The Brexit Party leader Nigel Farage, who is among the most radical Euroskeptics in the British Parliament, said that there is more than a 50% chance a general election is happening this autumn, calling May's deal the "worst deal in history" even without the backstop clause.

Farage is planning to run as a candidate against Johnson and threatened Johnson with fighting against him if he sells out.

"We are standing and we will stand in every seat in this election and we will say to Boris Johnson if you sell us out on Brexit with this awful withdrawal treaty we will fight you on every feat," said Farage, adding that he wants a "clean break Brexit"

Farage insinuated that Johnson deceived his voters since despite promising to leave the Union by October 31 no matter what, his recent meetings with European Union leaders are signaling otherwise.

"You’ve got the loud noise which says we’ll leave with no deal on October 31, but if you actually look at what is being said by Macron, Merkel and Boris Johnson – Boris in a letter last week said it was his highest priority to get a withdrawal agreement," he explained, "What we will not do is stand aside and watch Brexit be betrayed for a second time," he added.

By 10:49 (GMT) the GBP/USD pair was at 1.2262, rising 0.38%. The GBP/JPY pair was at 129.73, going up 0.07%.

Sara Patterson
About Sara Patterson
Sara Patterson has a Master’s Degree in political science and enjoys analyzing both current events and the international markets to get a fuller perspective of the currency market. Before turning to financial writing, she taught English writing skills to high-school age students. Sara’s work has been published on various financial and Forex blogs.
 

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