Britain votes: UK may need to ask for delay to Brexit process, says JPMorgan

A man taking a photo of an exit poll predicting that the Conservative Party led by Theresa May will win 314 seats in the British general election, on June 8, 2017.
A man taking a photo of an exit poll predicting that the Conservative Party led by Theresa May will win 314 seats in the British general election, on June 8, 2017.PHOTO: AFP

LONDON (Reuters) - Britain may have to delay Brexit talks in the absence of a majority for Prime Minister Theresa May's Conservative Party, JPMorgan said on Friday (June 9).

With no clear winner emerging from the parliamentary election, a wounded May signalled she would fight on, despite being on course to lose her majority in the House of Commons.

"Perhaps the most obvious conclusion is that the likelihood of the UK needing to request a delay in the Brexit process has risen substantially, given the chance that political developments in the UK disturb what is already a time-compressed process," said Mr Malcolm Barr, economist at JPMorgan, in a research note.

 

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