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Published: Wed, April 19, 2017
Global Media | By Abel Hampton

British PM Theresa May calls for early election on June 8

British PM Theresa May calls for early election on June 8

Britain's Prime Minister Theresa May speaks to the media outside her official residence of 10 Downing Street in London, Tuesday April 18, 2017.

Sterling, which had fallen sharply against both the U.S. dollar and the euro following news that the Prime Minister was set to make a statement at 11.15am, unwound all of those losses after she called a General Election and is now trading higher against both. Here's a brief look at what happens now, and what's at stake.

"In recent weeks Labour has threatened to vote against the deal we reach with the European Union".

Bale said a bigger majority would give May a new batch of loyal Conservative lawmakers and leave her less at the mercy of euroskeptics in her party "who otherwise could have made negotiations much more hard".

May triggered a two-year countdown to Britain's exit from the European Union last month, and high-stakes negotiations to settle divorce terms and agree on a new relationship are expected to start within weeks.

The 2011 act was introduced to ensure elections are held every five years.

Tusk said on Twitter that he had a "good" telephone conversation with May after she called for the election.

This election will decide the 650 MPs who will sit in the House of Commons and vote on laws about Brexit, the economy, health, education, and other important issues. "It weakens the government's negotiation in Europe".

There will be a Commons vote on the proposed election on Wednesday - opposition Labour Party has said it will vote with the government, reported BBC. The next prime minister will be the leader of the party that manages to win majority of the seats - 326.

Elections are always unpredictable, but bookmakers consider May's Conservative Party a strong favorite to win.

Despite refusing to be drawn on the number of seats Tim Farron's party hopes to reclaim, he said: "We know from the Conservative's own polling that they're anxious for instance about seats in the south-west, seats in south-west London which we previously held".

Ahead of the last general election, in 2015, David Cameron's advisers went to great lengths to avoid a head-to-head clash on prime-time TV with Labour leader Ed Miliband.

"I welcome the Prime Minister's decision to give the British people the chance to vote for a government that will put the interests of the majority first", Mr Corbyn said in a statement. He said it would "give the British people the chance to vote for a government that will put the interests of the majority first".

"She's the person I suspect who's now picking up signs in the United Kingdom economy, with things like inflation, employers saying they're going to relocate jobs, European medicine agency for instance".

The Lib Dems and SNP have also spoken in favour, saying they want to campaign against Brexit.

The party said it had gained 1,000 new members in the hour after May's announcement. The U.K. voted 52 percent to 48 percent to leave the European Union, but Scotland backed remaining by a large majority, and Scottish First Minister Nicola Sturgeon is seeking to hold a referendum on independence from the U.K.

Underlining the opposition of the other parties, and their attempts to block the Brexit decision, May complained about a lack of unity in parliament.

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