that task falls to david davis, a conservative party veteran and a staunch eurosceptic.ars of negotiations ahead, that is a formidable response ability. brent: let's talk more about theresa may's new government. our correspondent in government -- in brussels joins us. you have to remember, boris johnson is the same horse johnson recently compared the european union with napoleon and hitler. how difficult is it going to be for him to build a bridge to europe? >> it is not the most diplomatic move if you now have to tolerate that you have to talk to king brexit when boris johnson comes into the foreign ministers meeting. there are so many common interests come i'm not surprised that when boris johnson says brexit does not mean leaving europe, of course not because britain profit so tremendously. i think they will get their act together at the end of the day. the real problem you have is that if brexit indeed were to turn out to be a success, the eu would be in enormous trouble and they will make these negotiations as tough as they can. brent: speaking of negotiations, the

was a remain.ay she has been much quieter than other people who have been eurosceptic in the past.e immigration issues. but she said brexit means brexit. maybe after there is the idea that she is more likely at least andrealow on brexit than would have done, and the kind of or she wouldd get have been, very much pumping down on free movement. i wonder, simon, if you have seen a dichotomy? on the one hand, a masters like to compare her to margaret thatcher a lot. she is a safe pair of hands. she is conservative. hear. that we but on the other had, she is bringing in the socialist or european socialist things of putting labor unions on the boards of countries and clamping corporate taxes. she does not want just the -- a cryd few to enjoy out to the popular voters. do you see those two w things playing in her campaign? simon: absolutely. she spoke today before she knew she was going to be prime minister. she was talking about the economy needs to include more people, and share the wealth that much more, and david miliband, previously the leader, a year ago, taking on david cameron in

that has gone to another eurosceptic, david davis. a day of stunning and shift change -- swift change, the kick up with cameron's farewell. >> david cameron emerging from the street one last time, his wife and children standing by as he addressed his final words to the nation as its leader. >> it is been the greatest honor of my life to serve our country is prime minister over the last six years. and to serve as leader of my party, almost 11 years. and as we leave for the lacks time, my only wish is continued success for this great country that i love so very much. >> cameron's day began with a final appearance in parliament as prime minister, responding to the scrutiny of his peers. >> order, questions to the prime minister. >> this morning i had meetings with colleagues and others. other than one meeting with her majesty the queen, the rest of my day is remarkably light. [laughter] >> there is support for cameron's humorous bravado, the criticism for taking britain to the brink of leaving the eu. >> we should try to be as close to t

the eurosceptics in the conservative party, who believe britain's future is outside of the european union they see backsliding, they will hold her feet to the flames like they did david cameron. much. thank you, very a wild few weeks in westminster. he will be seeing more of boris johnson. still to come, one south african artist turning his talent to drawing superheroes, hoping, to ask will bring about a better world. recovery efforts continue at the side of a crash between 2 trains italy.hern matteo renzi has promised a full investigation into how the trains came to be on the same track. at least 23 people were killed. correspondent: slowly, carefully, the wreckage of this crash is being removed and examined. recovery teams believe they have found all of those who died. searching for the clues that will explain the accident will take more time. it is hard work in hot weather. i've never seen a tragedy of this type before. i'm shocked what i came to the crash site yesterday. you would not have expected this from a straight stretch of rail track. it turned out to be very dangerous. corresp

bob feels eurosceptic party ukip is the only one taking his concerns seriously. >> our prime ministers and mps, local mps, should come here and look around and see what it's like -- instead of sitting in a lovely office. >> they don't look after you? >> no! no, and that's why we've all voted 'out'. but we've got the problem now with young'uns who are saying: the old'uns shouldn't have a vote; you're not thinking of our future. i voted for two reasons: keep people out, so my children and grandchildren will get a chance. >> comments like these are repeated up and down hope street -- for instance, at the local hairdresser's. >> when we get so many immigrants that are, too much is too much. other countries can say the same. and i feel so sorry for them that they haven't got a country of their own. >> here they followed the 'leave' campaign's rallying cry that the ship is full, and foreigners are taking all the jobs and doctor's appointments -- even though few eu immigrants actually live in stoke. over 70 percent of the city's residents voted in favour of brexit. richard stubbs was one of t

laura: what do you think of may's overall strategy of appointing several eurosceptics? these are ministers who will be in charge of negotiating for britain's exit from the eu? is that the right strategy? it's quite a dangerous strategy, but i'm not sure it's one she could avoid. she had to bring the brexit campaigners into the government. in order for them to actually trust any outcome that is negotiated, she probably had to put them in the hot seat, so to speak. and i think the key man there is not boris johnson. it's going to be david davis. he's in charge of the brexit negotiations. the danger is that he and his colleagues, like liam fox, who is in charge of trade, are actually pretty in-your-face, tough negotiators, with a very single-minded view that they want out of the european union, almost regardless of the price. and i think theresa may, on the other hand, will be much more inclined to say, look, we've got to do a deal that's good for everybody. so, i think the danger is that these people may be actually very difficult negotiators, who will alienate all their

far too many, say the eurosceptics. 75% of the people in boston voted to leave the e.u. -- a clear stance against their foreign-born neighbors. >> exit the european union. brian rush: people are being drawn here because of our high rate of benefits. we earned those benefits. we earned the right. we re-invested in ourselves, that's why this country is a great country. >> what can we lose? >> what have we lost? >> we've lost a lot. all our industries are gone. it's not britain no more, is it? >> it's too much a mixed bag. and we are attracting too many people. yes, the wrong people, the wrong kind. reporter: the voices of the brexit supporters and their populist arguments have prevailed. [laughter] reporter: agnes and zbigniew are disappointed. although they are naturalized british citizens, they feel less welcome now than ever -- like many others. agnes godzisz: so it's quite difficult, it is scary, to be honest. zbigniew godzisz: i tried to explain them that it's not, the european union is not just about the immigration. it is such a big thing and you can't just look at the one point and

he is the former minister of state for europe and is a prominent eurosceptic.g to take whatever measures needed to shore up the british economy. hammond said the number one challenge is to send signals of confidence to the market, businesses, and international markets. in japan, shares of a printing company rose after reports they want to advocate. japan uses an imperial calendar. it is called the 28th year of -- 28th year of the reign. news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. nejra cehic, this is bloomberg. tom: we thank you for the comments in the quality of our those guestsne of has been olivier blanchard, formally with the lagarde international monetary fund, now with the peterson institute. on the markets, richard turnill has been wonderful. we appreciate your attendance. we have to talk about negative interest rates. if you are writing a sixth or seventh edition to your macro textbook, you would have to write a new chapter on negative interest rates. what will be the reaction function of chronic ne

voting to end up to be eurosceptics. angie: are they on social media?y have something to say about his brexit shenanigans. what are you monitoring? >> there has been criticism about him, saying you must go, we need people in your position -- another saying every time he opens his mouth he creates a self-fulfilling prophecy. damning.hose pretty but he is the only one left in the room with any kind of leadership left in the u.k. angie: thank you so much for that. on to china. if you are evidence of the economic transition to technology and services on the mainland come all you have to do is go across the border from hong kong to shenzhen. new economy stocks there are outperforming their shanghai years by a record level. we have stephen taking a look at this divergence. i guess what we are seeing is a tech play. stephen: the new economy versus the old economy. shenzhen, they had the start of boards, biotech companies, technology companies. this is a bet on the new economy which the government is pushing. it is funny to talk about how performers in the chin

she is a eurosceptic but lots of people don't very much like the euro but her argument was, i don't lovet, but we are better off with it than without it. her pitch is that although she , she cante for this deliver it because she understands the concerns of people that did not vote with her. the pitch yesterday was very much, trust me, little the all right. matt: it looks like from this vote, theresa may has a massive majority. she had well over half. she had half of the votes. that counts as a plurality. unite?e or will it continue to fall apart? of the immigration stance, it is disgusting. >> this is a really interesting question. there is nothing that could happen. and whether that happens may depend an awful lot on what the briggs it turns out to look like . can she do this? may be. her fellow mps thinks that she can. for and this voted is why. do you see either of them triggering article 50? andrea says very soon and theresa may says everybody just hold on a minute. theresa may would be definitely not this year. she is slightly vague about what it might be. but possibly very soon. as

he has been a eurosceptic, as they say.e do not know who is going to .ave which post yet we do not know what the division of responsibilities is going to be, but clearly, the countries finance minister is going to have a big role in negotiations with the european union, and he is well suited to that job, at least in terms of his background, because he was foreign secretary. he knows many of the leaders of the eu countries, and it's going to be crucial for the chancellor maintainchequer to access to the single market. that is what they really want here in the u.k. -- caps on migration, many of the people here want to take their laws they want to, at least here in the city and in london, keep that access, and he should be in a position to do that. david: ryan chilcote recapping the news we just got. a whirlwind day for theresa may. we heard a bit of her speech at the top. what else have we heard from her about the direction she intends to take this government and? she talked almost exclusively about social justice, saying tha

bob feels eurosceptic party ukip is the only one taking his concerns seriously. >> our prime ministersd mps, local mps, should come here and look around and see what it's like -- instead of sitting in a lovely office. >> they don't look after you? >> no! no, and that's why we've all voted 'out'. but we've got the problem now with young'uns who are saying: the old'uns shouldn't have a vote; you're not thinking of our future. i voted for two reasons: keep people out, so my children and grandchildren will get a chance. >> comments like these are repeated up and down hope street -- for instance, at the local hairdresser's. >> when we get so many immigrants that are, too much is too much. other countries can say the same. and i feel so sorry for them that they haven't got a country of their own. >> here they followed the 'leave' campaign's rallying cry that the ship is full, and foreigners are taking all the jobs and doctor's appointments -- even though few eu immigrants actually live in stoke. over 70 percent of the city's residents voted in favour of brexit. richard stubbs was one of them

far too many, say the eurosceptics. 75% of the people in boston voted to leave the e.u. -- a clear stanceainst their foreign-born neighbors. >> exit the european union. brian rush: people are being drawn here because of our high rate of benefits. we earned those benefitsts. we earned the right. we re-invested in ourselves, that's why this country is a great t country. >> w what can we lose? >> what have we lost? >> we've lost a lot. all our industries are gone. it's not britain no more, is it? >> it's too much a mixed bag. and we are attracting too many people. yes, the wrong people, the wrong kind. reporter: the voices of the brexit supporters and their populist arguments have prevailed. [laughter] reporter: agnes and zbigniew are disappointed. although they are naturalized british citizens, they feel less welcome now than ever -- like many others. agnes godzisz: so it's quite difficult, it is scary, to be honest. zbigniew godzisz: i tried to explain them that it's not, the european union is not just about the immigration. it is such a big thing and you can't just look at the one point a

in the remain campaign was in the lead by a long shot but she was always a eurosceptic in the past.will be another vote. the person with the least votes will drop out. it would be stephen crabb. it then every tuesday and thursday to have another vote until there are only two members left. then the whole country will vote. >> the candidates have been campaigning on key points about how to trigger article 50 on the treaty on how to exit the european union. we will be hearing much more from the candidates coming up ahead. of bloombergour markets, the global fallout continues. a look at what is done to an eu candidate. it this is bloomberg. ♪ matt: plus, a real estate investor adds a vineyard to his portfolio. why not? he plays polo, too. shery: and we will get more details about comcast letting netflix into their platform. all that coming up and more. this is bloomberg. ♪ shery: this is bloomberg markets. matt: oil on track for the biggest drop in five months, trading below $47 a barrel. the commissioner chief appears to be bowing to pressure from germany. officials before and , jamie

geopolitical risks , it's a facted that eu politicians will have to do more to appease eurosceptic domestic voters. franc the drive towards border controls, it will make responses harder. this is the level of volatility. we haven't seen this level in lire against the dollar going back to 2008, and you say we are beginning to unprice. as europe and the world sees that they have no choice but to continue their relationship with erdogan, financial investors do have a choice. i would challenge the view that money will return with such flow, $16 billion, back into turkey this year. this is a president on a power-hungry trip. >> manus, i agree with you. i fear you are absolutely right here. is that there is a greater geopolitical risk attached to the. turkish asset and the currency. turkey is a strategically important market. it's important not just for the eu, but it's also important in terms of the way it has been global portfolios. a higher geopolitical risk premium, given turkey's reliance on capital flows, and given foreign investors will have to the volatility and higher risk premiums in th

i'm not a eurosceptic.> reporter: with the disappointment, there is concern. the european project is foundering. >> this was just one sign that people are really unsatisfied and unhappy with the way europe is going for the moment, and i think if there were other referendums in other countries, we might have similar results. >> reporter: not an idle fear. this skeptic ready to jump on the brexit bandwagon. >> now as a citizen with this referendum set, europe does work well and is not for the citizen. >> reporter: arriving home from a week at the beach, this young belgian shell shocked. >> makes me have the feeling that stuff is falling apart. so, yeah, that's not very positive. i'm thinking now what's going to be next. are there other countries going to leave? >> reporter: but in the gloom, a ray of hope. and boris johnson pulling out of the race for prime minister? >> well, at least some good news in this rainy weather today. >> reporter: no bad feelings in brussels, then. >> nic robertson there with a view