Crispin Odey, a major Conservative Party donor and hedge fund manager who backed the Leave campaign, believes that Environment Secretary Michael Gove should replace May as party leader because she cannot “carry Brexit through.”
He suggests that the government take a bolder stance with Brussels and learn from the new Italian coalition government which wants to defy the EU’s debt rules.
“We should be reaching out to Italy. We should be saying that we have so many of the same problems,” Crispin Odey emphasized.
He also believes that London should breach EU rules by signing separate trade deals with foreign countries.
“We’ve got to have that self-confidence to make breaches,” he told the Observer. “I would go to Gove. He’s the only minister who is still being a minister. Michael has got lots of attributes that make him a non-traditional Tory. He is very aware that he has to appeal not just to the wealthy, but also more broadly. I don’t think May can carry Brexit through any more.”
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“Italy has confronted the EU – they’ve said they will go ahead and be in breach of its rules,” he added.
While admitting that Theresa May is a gifted technocrat, Crispin Odey questioned her handling of Brexit.
“As someone said about May, she should have joined the civil service, rather than becoming a politician. She is perfect for that, but she can’t make a decision. So there is no leadership.”
The United Kingdom is currently part of the EU single market but if London leaves it after Brexit, Britain will have to negotiate new trade deals with its partners, including the United States.