British election: Conservatives lose absolute majority
The British ruling party lost its chance to gain absolute control of the House of Commons. The British pound has reacted negatively to the election results. It is said that the current political developments will not be unaffected by the process of Britain's exit from the European Union.
The Conservative Party of Britain, led by Prime Minister Theresa May, lost its absolute majority in the House of Commons in a snap election. According to reports, after votes were counted in almost all 650 constituencies by Friday morning (June 9), the Conservatives no longer have a chance of winning the 326 seats in the House of Commons (an absolute majority).
After the initial election results were released, it was announced that the ruling Conservative Party was narrowly ahead of its main rival, the Labour Party. According to the latest vote count, the Conservative Party had won 318 seats and the Labour Party 261 seats out of a total of 650.
After the announcement of the first predictions of the election results, the value of the British pound fell sharply, losing 1.3 percent against the dollar and 1.5 percent against the euro.
The election result may also have an impact on the process of Britain's exit from the European Union - Brexit. An economist at the financial institution JP Morgan believes that the likelihood of Britain requesting a delay to Brexit negotiations has increased significantly after the ruling party failed to gain absolute control of the House of Commons. According to this economist, the current political developments in Britain will disrupt the breathtaking process of Brexit negotiations.
Source: DW
