London Mayor Boris Johnson has announced that he will back an exit from the EU. Going against UK Prime Minster David Cameron.
The British pound today hit as 7-year low on Brexit fears. Of course, this is short term and the long term strength of the pound is dependent on how tightly the Bank of England keeps the money supply (See Switzerland and the franc).
According to FT, during debate in the House of Commons the UK prime minister had to face down many of his own MPs who are now openly defying him over Britain’s place in the 28-nation bloc.
At least 18 mainstream MPs, including a number of ministers who had campaigned for EU reforms, are to join the Brexit campaign.
Overall. senior members of the Conservative party believe the number of Tory MPs backing Brexit is approaching 150, meaning that the parliamentary party of 331 MPs is split almost in half.
Corporate leaders at companies including Shell, BAE Systems, BT and Rio Tinto are set to sign an open letter arguing that Britain is “stronger, safer and better off” in a reformed EU, reports FT.
A referendum is to be held on June 23 to decide whether UK stays in EU, Cameron has announced
The referendum will be held across all four countries of the United Kingdom, as well as in the Overseas Territory of Gibraltar, as a single majority vote.