Theresa May says that she is to step down on 7 June
Theresa May speaks in Downing Street
- I've done my best to implement Brexit vote
- I've done everything I can to convince MPs to back my deal
- It is a matter of deep regret that I have not delivered Brexit
- Will continue to serve as prime minister until new leader is elected
- Says leadership contest will begin in the following week after her resignation
- Says consensus on Brexit can only be reached if all sides are willing to compromise
The pound has caught a bit of a bid on the back of her announcement here with cable rising to a high of 1.2710 before falling back off to 1.2690 now. As mentioned earlier, her decision may give the quid a bit of a bid on overdue expectations but the reality is that it doesn't change anything on Brexit - even with a new leader.
Her speech ends with her saying that "I leave with no ill will", and she cries while she walks away from the podium. A sad and bitter end.
Don't cry for me Britannia~