Well. What a difference a few weeks can make. Last night, the Prime Minister of the United Kingdom, who called a snap election in April to shore up her majority in Parliament, discovered that she no longer had a majority in Parliament:
We are heading for a hung parliament. The UK’s first-past-the-post electoral system means hung parliaments rarely happen in Britain, but it was the case following the 1974 election and most recently in 2010.
In the case of a hung parliament, the leader of the party with the most seats is given the opportunity to try to form a government. This can take two forms: one option is a formal coalition with other parties, in which the coalition partners share ministerial jobs and push through a shared agenda.
The other possibility is a more informal arrangement, known as “confidence and supply”, in which the smaller parties agree to support the main legislation, such as a budget and Queen’s speech put forward by the largest party but do formally take part in government.
May or her successor as Conservative leader will have the chance to try to form a government. She could attempt to scramble together a formal coalition of other parties, possibly including the DUP, that would take her over the threshold needed to obtain a House of Commons majority. Alternatively she may try to lead a minority government if she can convince other parties to back her in a vote of confidence.
If the Tories fail to form an alliance, Jeremy Corbyn could attempt to strike a deal with the SNP, the Lib Dems, the nationalist parties from Northern Ireland and the Greens. But this is an unlikely scenario.
Other reactions to the UK's election surprise:
And one other item of interest, especially as I'm visiting the Ancestral Homeland in August: Sterling dropped 2% against the dollar overnight, and is now, at $1.27 to the pound, near it's 10-year low of $1.20.