Britain's new leader Boris Johnson vows to get Brexit done. Read more:
The pound has fallen sharply in recent weeks on concerns about a"no-deal" Brexit, and stands near $1.24The investment bank Goldman Sachs raised its probability of a no-deal Brexit to 20% from 15%, but kept the odds of a negotiated Brexit deal unchanged at 45%.Britain, in the middle of one of the most tumultuous moments in its modern history, will be now led by a flamboyant figure known for his ambition, untidy blond hair, flowery oratory and cursory command of policy detail.
Many investors and economists say this would shake global markets and tip the world’s fifth largest economy into recession or even chaos. A Brexit without a divorce deal would also weaken London’s position as the leading international financial center while jolting the northern European economy. Some Conservative lawmakers have threatened to topple the government to avert a no-deal Brexit, a step that would probably deepen Britain’s crisis and lead to an election.
After entering politics, he was dismissed from the Conservative Party’s policy team while in opposition for lying about an extramarital affair. He and his wife announced last year they were to divorce and he is currently in a relationship with the party’s former communications chief, Carrie Symonds. His embrace of a court jester role has won over many Britons, fed up of what they see as an out-of-touch political establishment too centered on a London elite. He served two terms as London mayor, from 2008 to 2016.
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