Leadsom’s exit

Hopefully there’s some substance behind the breaking news that Leadsom’s about to exit the race. For those of us still hoping for some bridge across the Brexit chasm, May represents at least a sliver of short-term hope—albeit at the cost of the most regressive broader political and social mindset in a generation. That said, as Wolfgang Münchau pointed out in the FT over the weekend, if her European plan just comes down to ‘EEA-minus’—so the UK can block undesirable EU aliens whilst still being able to offer them British financial services in their home countries—the plan will likely go in the same direction as Major’s hard ecu. 

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