May failed to get the mandate she sought

A graph on a trader's screen shows the fall of pound sterling that occurred when the first general election exit poll was released as Britain's PM Theresa May is seen speaking on a television beyond on the trading floor of ETX Capital in Londo

Theresa May Vows Brexit Will Go On

While the Conservatives are still the largest party in Parliament, they did not win enough seats for an outright majority, leading to a hung parliament.

If May was right that her party's narrow majority impaired her ability to negotiate optimal terms for withdrawal from the European Union, it's hard to see how she (or another Conservative prime minister) wouldn't be at an even greater disadvantage negotiating on behalf of a minority government.

Her calculations backfired. After the deeply disappointing result for the Tories, announced on Friday, and a surge in seats for the Opposition Labour Party, Ms May - whose authority appears greatly diminished - now says it is "incumbent" on her party to give the country "stability".

Following the election, May faced backlash over the failure of the Conservative party, with a number of politicians - including Corbyn - suggesting that she has to resign. But the election result meant it was unclear whether her plan to take Britain out of the bloc's single market and customs union could still be pursued.

The result also prompted criticism of May from within her own ranks as well as from the opposition.

Sterling plunged against the dollar and the euro as the election result created even more uncertainty over the whole Brexit process.

Mrs May could face a similar fate, giving Corbyn a route to power on the back of his surge in support across the UK.

The Conservatives lost their parliamentary majority in Thursday's election.

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"What the country needs more than ever is certainty", she insisted.

Mr Hammond, 61, was named Chancellor of The exchequer by Mrs May shortly after she took over as prime minister almost a year ago, in the wake of Britain's decision to leave the European Union. "Let's get on with the job", he said.

The Conservatives and the DUP, a socially conservative party that backed Brexit, are expected to work together on a vote-by-vote basis rather than enter a formal alliance. Over the past few months, we've reported extensively about a growing interest in Chinese culture in Britain, and vice versa.

"The Conservatives have not yet broken the British system of democracy, but through their hubris and incompetence they have managed to make a mockery of it", it said in an editorial.

"But you've got to convince them of your credibility and that you can move from protesting about the government to being in government".

The Telegraph newspaper said senior Conservatives including Foreign Secretary Boris Johnson, home secretary Amber Rudd and Brexit minister David Davis were taking soundings over whether to replace May. May emphasized toughness on terrorism, especially after recent attacks in Manchester and London, but proved to be an uninspiring campaigner who refused to take part in televised debates with her opponents.

The two parties are broadly politically aligned, but it remains to be seen what price the DUP will seek to extract for its support.

After the election, the right-wing UK Independence Party, which helped drive Brexit, was left with no seats in Parliament.

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