Published: Wed, July 13, 2016
Economy | By Melissa Porter

China remains confident in EU future after Brexit

Both leaders in the lead up to the referendum sincerely believed there was little chance of the United Kingdom leaving the Union but were keenly aware of the schism developing between those seeking closer integration between EU members and those (like Chancellor Merkel and PM Cameron) believing that the Brussels based-Eurocracy was suffocating enough. The leave campaign has indicated its preference for a system akin to the Tier 2 system within the UK's current points-based scheme.

Answering the backlash on social media against the march she said: "Firstly, the very principle of democracy is that you can keep fighting for what you believe in, no matter what direction the government is taking".

It comes as Theresa May, who on Monday was confirmed as the new leader of the Conservative party, reiterated her stance at her victory speech that "Brexit means Brexit" and there will be no attempts to stay within the EU.

Their comments came hours after German Chancellor Angela Merkel urged May to "quickly" clarify what kind of future relationship it wants with the EU.

Reports suggest that the Royal Bank of Scotland (RBS) has been countenanced with fresh post-Brexit challenges after the proposed sale of its Greek ship finance business, with potential suitors backing off, partly due to the British vote to leave the European Union, sources told Reuters.

There will be no attempts to remain inside the European Union, there will be no attempts to rejoin it by the back door, says Theresa May.

May's only rival Andrea Leadsom, a junior energy minister, has emphasised her credentials as a top Brexit campaigner and her supporters say only she can be trusted to enact Britain's withdrawal.

"Welcome news we have 1 candidate with overwhelming support to be next PM".

Relations between Britain and China have been warming over the past few years and economic links have multiplied, in what both countries refer to as a "golden age" in ties promoted by President Xi Jinping and British Prime Minister David Cameron.

"So I would say it is in the UK's interest to get clarity as soon as possible on its future relations (with the EU)", he added.

In a pitch for the political center, she said she would prioritize more house-building, a crackdown on tax evasion by individuals and companies, lower energy costs and a narrowing of the "unhealthy" gap between the pay of employees and corporate bosses.

"Under my leadership, the Conservative Party will put itself completely, absolutely, unequivocally, at the service of ordinary working people ... we will make Britain a country that works for everyone", she said. Britain will also be seeking new trade arrangements with its former union partners. However, Barclays has said Brexit could see the country becoming a "safe haven" amid a disintegrating Europe.

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