Theresa May, who devoted her past three years for divorce of the United Kingdom (UK) from the European Union (EU), on Friday resigned from her post as Prime Minister of UK.
As per media, May will resign as leader of the Conservative party on Friday 7 June. The process to select a new leader will begin in the following week. May in her statement to reporters said, “I have done everything I can to convince MPs to back that deal … sadly I have not been able to do so.” May says “it has been the honor of my life to be the second female prime minister, but certainly not the last.”
Following a referendum held on June 23, 2016, in which 51.9% of those voting supported Brexit, the government invoked Article 50 of the Treaty on EU, starting a two-year process which was due to conclude with the UK's exit on March 29, 2019. March 29 was a deadline which has since been extended to October 2019 31.
In November 2018, May had signed a draft Brexit deal with her opposite numbers in Brussels. She had promised at home that she has been unable to get the deal through Parliament. MPs have slashed it three times, by crushing margins. Further, May has promised to resign if she fails on her fourth and final attempt.
Even though the vote is not due until next month, it became clear this week that the deal is in danger when her last attempt to win backfired and triggered the resignation of a senior minister.
Reacting to this, shares in European markets were trading in the green on Friday.
Source: Media reports