UK tries to soothe nerves ahead of meeting with EU leaders

Despite George Osborne's reassurances of strength of the UK economy, sterling and stock markets continue to slide

Published Mon, Jun 27, 2016 · 09:50 PM

London

THE fractured Conservative government has begun to soothe local and international nerves ahead of a crucial European Union (EU) meeting on Tuesday.

European officials and German Chancellor Angela Merkel and other leaders made it clear that a period of calm was necessary ahead of the official "Article 50" negotiations.

Britain's next prime minister will be appointed by Sept 2 at the latest under a timetable put forward on Monday by the committee responsible for running the leadership contest. Graham Brady, chair of the 1922 committee of Conservative lawmakers said that an earlier conclusion might be possible and that nominations must be submitted by noon on Thursday.

UK Prime Minister David Cameron's spokeswoman said that he had set up a unit of public servants to help a future leader not only negotiate the departure of Britain from the EU, but also to work out the options for the countr…

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