Sand running out of hourglass for UK PM: JPMorgan
American banking giant JPMorgan has informed its clients that British Prime Minister Theresa May would be in office at last until the end of June.
JPMorgan’s analyst Malcolm Barr issued a note on behalf of the bank on Tuesday, saying that may had no more option to resist the mounting pressure for her resignation from within her ruling Conservative Party.
“Although PM May’s survival skills have been impressive to date, our sense is that the sand is finally running out of the hourglass for her leadership of the Conservatives,” said Barr.
The bank said May would survive in the Number 10 Downing Street until the end of June at last.
“In our view, it is difficult to see May’s leadership extending beyond the end of June,” said Barr’s note.
The statement comes amid increasing calls on May to leave office over her failure to bring the UK out of the European Union based on the results of a 2016 referendum.
May’s failure to secure a Brexit deal in the parliament for a third time in early April prompted the EU to extend the divorce negotiations until the end of October.
Her critics believe the failure has caused the ruling Tories to lose much of their public support, saying she should allow someone else to lead the Brexit process.
May has said that she would definitely leave office once Brexit is settled. She is currently in talks with the opposition Labour party to find a solution to break the parliamentary standoff over Brexit.
New opinion polls suggest the Conservatives would suffer a historic defeat in the upcoming European Parliament elections on May 23 as Tory voters are becoming increasingly unhappy with May’s leadership.
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