Brexit impasse: Theresa May resigns effective June 7

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After a tumultuous turn of events, UK Prime Minister Theresa May has announced her decision to step down, deepening the Brexit crisis. Lack of consensus in her own party was visible with respect to the Brexit Bill likely to be introduced on May 24 – her fourth such attempt.The resignation will signal the formal start of a leadership contest during which May would remain as caretaker prime minister.

"I will resign as leader of the Conservative and Unionist Party on Friday, 7th June," May said.

"The process for electing a new leadership should begin in the following week," she said.

The leadership race is expected to take several weeks.

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