The new Labour mayor of London, Sadiq Kahn, won a clear municipal mandate with 56.8% of votes against Zac Goldsmith, the Conservative candidate. He becomes the first Muslim elected to run an important capital city in the West. He was preceded by Conservative Boris Johnson, a Brexit advocate, who is said to be aiming for the Prime Minister’s job.
Although Brexit (British exit) has been a topic of political conversations in the U.K and in the E.U. for months now, it is now debated with a new feeling of urgency, few days ahead of a referendum organised in the United Kingdom on whether the country should leave the European Union or not.
The drop in crude oil prices seems almost a farce as they reach record lows. Within the context of North Korea’s nuclear testing and the Chinese growth slowdown, we may well ask: Is the current situation the premise of an imminent international financial crisis?