Theresa May and the Way Ahead With Brexit for the UK

Background Analysis

Theresa May is going to be the new prime minister of the United Kingdom. It is also a fact that most people know what led to her becoming the prime minister. But for the sake of those that are not so conversant with developments in the United Kingdom or current affairs in general, I will give a little background of what led to her succeeding David Cameron as prime minister.

There were calls from UK citizen for the country to break away from the Euro block in which the country was a key player. The argument from this group of citizens was that the country will be better off being alone than being a member of the euro block. While the calls were going on, some citizens not in support of the break-away called for restraining and caution.

David Cameron being the then prime minister left with the task of conducting the popular Brexit referendum to decide whether the country will remain in the block or pull out. He, however, made his decision clear to the citizens and fellow politicians of his intention to resign as prime minister if the citizens voted to leave the block during the Brexit referendum.

Brexit Outcome and its Aftermath

Following the successful conduct of the Brexit referendum and the eventual outcome of the voting result, it became clear that majority of UK citizens voted in favor of the country breaking away from the Euro block.

The attention of the world then shifted from the outcome of the referendum to wanting to know how the decision will affect not just the Euro block but the world in general economically and financial.

There were fears of how the result will affect financial markets in Europe and the world in general. There were equally fears of what will become of the Pound Sterling and the Euro when compared to other major currencies of the world.

Financial Impact of Brexit on the Pound Sterling

Following the end of the referendum, the country’s currency gained slightly against the United States dollar and the euro. The currency also gained against other major world currencies. But there were fears whether this gains will be sustained or not following the change of power in the country, as a result of the resignation of David Cameron as prime minister and the coming to power of Theresa May.

This is due to the fact that she may likely introduce new economic changes and financial policies which could affect the country’s currency positively or otherwise.

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