May wants a snap election, but it's not her decision

No wonder that several Labour members of Parliament said they were shocked by the snap election plans, fearing that the early vote will only benefit the Prime Minister.

"If we do not hold a general election now their political game-playing will continue, and the negotiations with the European Union will reach their most hard stage in the run-up to the next scheduled election".

"Last summer, after the country voted to leave the European Union, Britain needed certainty, stability and strong leadership, and since I became Prime Minister the government has delivered precisely that".

With Labour demoralized and divided under left-wing leader Corbyn and the pro-EU Liberal Democrats holding just nine Commons seats, May is calculating that the election will bring her an expanded crop of Conservative lawmakers.

Standing at the podium in Downing Street yesterday and contradicting all her previous assertions about a general election may have caused her at least some degree of embarrassment but she simply could not resist going down the road of political expediency.

"In recent weeks Labour have threatened to vote against the final agreement we reach with the European Union".

A senior European Parliament lawmaker says he hopes that British Prime Minister Theresa May, if strengthened by an election, will show readiness to compromise in Brexit talks. But the election still carries risk for May, with voters' potentially wary at being asked to go to the polls again, less than a year after the European Union referendum.

Perhaps the most uncomfortable party looking on was the DUP, which had previously convinced itself that it had a special relationship with a prime minister who had maintained that she was a committed unionist.

"We expect that the PM's gamble is likely to buy her more time as well as room for manoeuvre in the Brexit negotiations as she will depend less on fringe groups in her own party", said Citi's chief global political strategist, Tina Fordham.

The Conservative Party is around 20 points ahead of the main opposition Labour Party, a large lead for an incumbent party two years after the last parliamentary election.

Analysts at ETX Capital say in a note to clients that the election call "adds another layer of complexity to an already uncertain picture for United Kingdom and European assets".

In a statement Tuesday soon after May made her surprise announcement, Corbyn said he welcomes the decision to "give the British people the chance to vote". "There can be no turning back".

She said "division in Westminster will risk our ability to make a success of Brexit".

May will go to the House of Commons Tuesday to lay down the necessary legislation for the calling of an early general election.

There have been calls for TV broadcasters to "empty chair" Mrs May in election-time leaders' debates if she refuses to take part.

British stocks are vulnerable to a rising pound because more than two thirds of FTSE 100 company earnings are derived from operations overseas.

  • Leroy Wright