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UK Government defeated over Syria action

Friday, August 30, 2013 - 01:31

Aug 30 - UK Prime Minister David Cameron has lost a parliamentary vote 285 to 272 - which was meant to pave the way for Britain to join a looming military strike on Syria. The shock defeat sent the price of oil down, as Ivor Bennett reports.

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13 is today's daily digit in Europe - the number of votes the UK Government lost by in a motion proposing possible military strikes in Syria. It was an embarrassing defeat for David Cameron, the first time in 150 years a British Prime Minister has lost a vote on military action. (SOUNDBITE) (English) BRITISH PRIME MINISTER DAVID CAMERON, SAYING: "It is clear to me that the British parliament, reflecting the views of the British people, does not want to see British military action - I get that and the government will act accordingly." It was meant to pave the way for the UK to join a looming strike on Syria to deter the use of chemical weapons. But the motion was defeated after nearly 40 MPs from Cameron's own party rebelled and voted against it. It all but rules out British involvement in a military strike, a result welcomed by markets. Asian stocks rose on the result while oil prices dropped. Ian Stannard from Morgan Stanley says there could also be dollar implications if this means the US now goes it alone in Syria. SOUNDBITE (English) MORGAN STANLEY HEAD OF EUROPEAN FX STRATEGY, IAN STANNARD, SAYING: "Over the coming days I would expect a slight pause in the recent recovery trend, particularly against the emerging market currencies. But I think longer term, we still need to look at the dollar as being probably the outperformer amongst the G10." Officials have suggested the U.S. would still be willing to proceed with limited action against Syria even without any promise of allied support.

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UK Government defeated over Syria action

Friday, August 30, 2013 - 01:31