Last Friday the British government held an important meeting to decide what their course of action regarding Brexit negotiations would be. Theresa May managed to calm the markets by showing a willingness to work towards a soft Brexit, which is a change from her previous stance. The change comes as many businesses in the United Kingdom have been raising concerns that Brexit could be devastating for the economy and cost many people their jobs. Yet this new turn of May’s government yesterday caused the Foreign Secretary Boris Johnson and the Brexit minister David Davis to turn in their resignations.
The internal disagreements of the British government caused a drop in the Pound sterling, however, Theresa May is not expected to face a vote of no confidence in the near future. Today she will be meeting with German Chancellor Angela Merkel, arguably the most important person that the British government needs to face in order to secure a good Brexit deal.
The opposition largely comes from politicians who favor a hard Brexit and insist on a more protectionist type of policy. They view a softer exit from the EU as not that different from being in the union, which is why they wanted to leave in the first place.
