Boris Johnson: This is not a crisis this is a moment for hope and ambition

Boris speaking but he hasn't actually declared he's in the running.

He's making a big speech which sounds like he might go either way.

The way he's speaking he sounds like he's not going to enter.

• I'm a tax cutting conservative but wants a fairer capitalism
• You live longer under conservatives
• More visitors go to the London Natural History museum than go to Belgium. :-D
• Decided not to run for PM

For some reason the pound likes it and knocks against 1.3500.

Most notable is that Boris didn't put his name behind any of the other candidates. The deals being done behind the scenes must have gone into overdrive.

A lot of outside commentators are proclaiming that the political picture is one of upheaval and the leadership issues are a mess. That's very far from the truth. While Labour may be imploding, the Conservatives have been going along very calmly and sensibly.