U.K. Tories See Opportunity and Threats in Their Game of Thrones

• The race to be next leader of the U.K. Conservative Party is widening as more candidates throw their hats into the ring.
• The party’s dismal performance in the European elections may force the next leader to take a harder stance on Brexit, while opposition Labour Party leader Jeremy Corbyn was forced to promise a referendum after Labour also lost seats.
• In the rest of the European Union, horse trading has begun in earnest over the division of the top jobs following the election, with leaders meeting this evening to discuss the next European Commission and European Central Bank president.

(Source: Bloomberg