I don’t know enough about Theresa May to make a prediction as to whether she will make a good PM, but she has certainly exhibited a high level of political shrewdness to date, as evidenced by the following:
- Allying herself with the “One Nation” crowd puts plenty of distance between herself and George Osborne, her most dangerous long-term rival, and gives a kick to the rotting carcass of the Labour Party, which is likely to split in the next few months.
- Appointing BoJo as Foreign Minister may turn out to be a disaster for the country, but it is a great way to give him enough rope to hang himself.
The UK is going to have to make an extremely painful decision at the end of the Article 50 process: does it give up the banks, its freedom on immigration, or something else? Ms. May’s ability to deal with that issue without losing half of her party will probably determine the ultimate success or failure of her government. Another referendum, perhaps?