Pound dives on fears United Kingdom election may produce no clear victor

Sunday, 11 Jun, 2017

"No one wants to see a "hard" Brexit, what we want to see is a workable plan to leave the European Union, ' she said".

The British currency lost as much as 3 cents against the dollar by Friday as the results confirmed exit poll predictions that Prime Minister Theresa May had failed in her gambit to gain a stronger majority for those Brexit talks.

The deal sits uneasily with some Conservatives because of the DUP's opposition to abortion and same-sex marriage. The petition echoed some of the slogans at a leftist demonstration by a few hundred people outside Downing Street today who chanted: "Racist, sexist, anti-gay, the DUP has go to go".

"If, as the indications have shown, and if this is correct that the Conservative Party has won the most seats and probably the most votes then it will be incumbent on us to ensure that we have that period of stability and that is exactly what we will do". May said Friday she would be meeting with Queen Elizabeth II to form a government.

Britain's first-past-the-post voting system means hung parliaments are relatively rare - there have been only five since the end of the 19th century.

Mrs May is now pursuing a deal with the Democratic Unionist Party to ensure she can still pass legislation through the House of Commons, where currently a majority are fundamentally opposed to the majority of Tory policies.

"As far as the commission is concerned, we can open negotiations tomorrow morning at half-past nine", he said.

There had been doubts cast over her leadership after she paid a heavy price for her gamble to overturn the United Kingdom s Fixed Term Parliament Act and call a snap general election ahead of the fixed time-frame it would have been held in 2020.

But, after intensive talks with the DUP as the final election results came in, the PM instead drove the short distance to Buckingham Palace to ask the Queen for permission to form a new government.

For years it seemed Britain could not get out of the European Union fast enough.

With the DUP's 10 seats, she holds a tiny minority of just two.

The exit poll predicted the Conservatives will get 314 seats and the Labour Party 266, leaving both short of the 326 needed for a majority.

"As I reflect on the results, I will reflect on what we need to do in the future to take the party forward", May said.

"We don't know when Brexit talks start". Oettinger added that "without a government, there's no negotiation".

May called the election in April in an attempt to extend her majority and strengthen her Brexit-negotiating position, but her gamble backfired spectacularly, triggering fresh concern for the financial sector and businesses.

The DUP also fights hard against women's right to choose to have an abortion, making them the biggest pro-forced pregnancy party in the UK. Her weakened position in the party rules out big changes, and May's office has said that the most senior Cabinet members - including Treasury chief Philip Hammond, Foreign Secretary Boris Johnson and Home Secretary Amber Rudd - will keep their jobs, but she is expected to shuffle the lower ranks of ministers.

Corbyn and Liberal Democrats leader Tim Farron criticised May for not resigning after not only failing to achieve her intended large mandate but also failing to retain the number of seats the party had in the last parliament: 331.