The British pound dives after Boris Johnson resigns as Foreign Secretary

  • The British pound dives after Boris Johnson resigns as Foreign Secretary

The British pound dives after Boris Johnson resigns as Foreign Secretary

Newly appointed Brexit Minister Dominic Raab.

Instead May was tonight scrambling to shore up her ailing Premiership amid fierce rumours she is set to face a no confidence vote, possibly within hours.

In this image from TV, Britain's Prime Minister Theresa May gives a statement in parliament Monday, July 9, 2018.

She said she and the two departed ministers "do not agree about the best way of delivering our shared commitment to honouring the result of the referendum" in which voters opted to leave the EU.

Loud applause could be heard at the end of the 1922 Committee meeting, which the PM attended for just over an hour.

If May lost a no confidence vote then there would be a leadership contest. "Mr Speaker, this is the right Brexit", she said to jeers from the opposition Labour Party.

There was no immediate statement from Johnson, another loud pro-Brexit voice within May's divided government.

"The decisions we take now will shape Britain's relationship with the European Union and the rest of the world for a generation".

Less than nine months remain until Britain reduces the EU's membership on March 29, 2019.

There have been differences within the Conservatives over how far the United Kingdom should prioritise the economy by compromising on issues such as leaving the remit of the European Court of Justice and ending free movement of people.

Davis and his deputy quit just two days after May announced she had finally united her quarrelsome government behind a plan for a divorce deal with the EU.

Since cabinet approval for the plan on Friday, however, he had refrained from public comment.

Why did David Davis resign?

Davis resigned late on Sunday, saying he was not willing to be a "reluctant conscript" to her plans that were agreed by the whole cabinet on Friday. "I'd have to do something I didn't believe in", he told the BBC.

Tusk said it was unfortunate that the whole "idea of Brexit has not left together with David Davis".

Earlier May's spokesman signaled that the prime minister would not back down over her agreed negotiating stance, saying May would now focus on moving the Brexit negotiations forward - a step European Union officials and businesses have long called for.

Speaking in a boisterous House of Commons, Mrs May defended the Brexit plan agreed on Friday, which would see the United Kingdom agreeing a "common rulebook" with the European Union for trading in goods, but not services, after Brexit.

Johnson's resignation marks a major blow to the stability of May's government, with speculation it could collapse already rife.

Under her proposal, a treaty would be signed committing the UK to "continued harmonisation" with EU rules - avoiding friction at the UK-EU border, including Northern Ireland.

What was the reaction in the Commons?

There was a crisis in government, he said, adding: "It is clear this government can not secure a good deal for Britain". "It makes it unlikely that those leaders will pressurise Mrs May for further concessions".

What has been the reaction from the EU?

What does it all mean for Brexit? The UK government is in turmoil, but that has been the case for more than two years.