Britain's snap election backfires on Prime Minister Theresa May

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Standing outside 10 Downing St. today, Britain's Prime Minister Theresa May tried to put a fearless face on the disastrous results of Thursday's vote.

The political uncertainty generated by this election must not derail the Brexit process.

Cameron, gambling that Britons wouldn't want to sever their network of ties with the continent, had promised the Brexit referendum during a 2015 election campaign that gave Conservatives a surprise Parliamentary majority. "If she has an ounce of self-respect, she will resign".

It reflects poorly on May's leadership that she has brought her party to this pass. But Johnson said he backed May.

With British voter turnout hitting its highest rate since 1997 (69 per cent-up a significant two per cent from the last election) the one decisive and unforeseen factor that swung this election away from the expected Conservative majority was young people coming out to vote, in large part for Labour leader Jeremy Corbyn. May is fond of describing herself as "a bloody hard woman" but seems incapable of grasping the bloody hard situation in which she finds herself. In 1974, a minority Labour government was in charge for eight months because the Conservatives were willing to abstain on key votes.

German conservative Markus Ferber, an European Union lawmaker involved in discussions on access to European Union markets for Britain's financial sector, was scathing: "At the most untimely point", he said, "The British political system is in total disarray". In theory, this could push the negotiations toward a more accommodating outcome, one that would, ideally, allow the referendum result to be upheld without the worry of the United Kingdom walking away with no trade deal at all.

SCULLY: We now have a deeply uncertain situation with regard to the British government, and it is extremely hard to see what sort of, you know, progress can be made in these talks.

The Observer newspaper said the DUP arrangement fell short of a full coalition agreement because of concerns among some Conservative lawmakers about the socially conservative DUP's positions on gay rights, abortion, and climate change.

Rachel Sheard, who cast her vote near the site of the London Bridge attack, said the election certainly wasn't about Brexit.

However, I think one cautionary word that we need to bear in mind is that the struggling fate of these populist parties doesn't mean that the kinds of issues they have been putting on the agenda in recent years have actually been sufficiently resolved.

Samuel Tombs, analyst at Pantheon Macroeconomics, says the pound could drop further, to $1.2600, where it was trading before May announced the election in April.

Left-wing, anti-establishment, easily written off - Texan Colin Kalmbacher sees strong parallels between Bernie Sanders and British Labour Party leader Jeremy Corbyn.

May has said Brexit talks will begin on June 19 as scheduled, the same day as the formal reopening of parliament. If it is, Theresa May did not mention it after returning from her meeting with HM The Queen. May and her anti-EU government if incumbent Chancellor Angela Merkel wins the German elections (as the polls now predict), not to mention the global isolation of the erratic Donald Trump.

Britain's largely pro-Conservative press questioned whether May could remain in power. Adding insult to injury, the often ridiculed Mr. Corbyn managed to lead a resurgence of the Labour Party, earning a 29-seat gain over the previous election. It is also possible that Conservative leavers were less motivated to vote. But she-and her party-are seriously wounded by this result.

"If the poll is anything like accurate, this is completely catastrophic for the Conservatives and for Theresa May", former Conservative Treasury chief George Osborne said on ITV.

It is the third time Britons have been called to vote since 2015, twice for a general election and once for the European Union referendum, and voter fatigue appeared to be an issue for some.

Seven weeks ago, Labour went backwards at the local elections.

But now the public will quite rightly be questioning the prime minister's judgement.

May had hoped the election would focus on Brexit, but that never happened, as both the Conservatives and Labour said they would respect voters' wishes and go through with the divorce.

Last night, from South Stockton in Yorkshire, to Weaver Vale in Cheshire and Canterbury in Kent (Tory-held for more than 100 years), the party won seats with its radical programme.

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