Search ForexCrunch

The United Kingdom’s (UK) Prime Minister (PM) Boris Johnson recently crossed the wires, while speaking to the Members of the Parliaments (MPs), as the debate on whether there should be a snap election or not goes live in the British House of Commons.

Key quotes

“I don’t want an election, but is the only way to break the deadlock.”

“Only possible explanation is they fear we, I, will win it and secure a renewed mandate to take this country out of the EU.”

“They only believe in democracy when it delivers the results they want.”

“The opposition has a constitutional government to oppose the Government and to replace it. For this task they are handsomely paid to the tune of £10m of taxpayers money. The leader of the opposition himself is entitled to over £140000 of taxpayer money. They have their job….are there not grounds for legal grounds to compel them to do it.”

“Let the people decide if they want to delay Brexit.”

“I will not ask for Brexit delay.”

FX implications

While the British Pound (GBP) shows no immediate reaction to the news, neither the PM is expected to win the MPs supports for early election via harsh statements, his lack of readiness to discuss Brexit delay with the EU might endanger a smooth departure of the UK and could offer another long wait for action, which in turn could weigh on the British currency.