On the television channel ITV, George Osborne, a former Conservative parliamentarian and now a newspaper editor, said: "Clearly if she's got a worse result than two years ago and is nearly unable to form a government then she, I doubt, will survive in the long term as Conservative Party leader".
"Our position is very clear, we want a jobs-first Brexit, therefore the most important thing is the trade deal with Europe", he added.
While many, including Labour leader Jeremy Corbyn, have called for her resignation, May did not address that in her speech.
"At this time more than anything else this country needs a period of stability", she said, her voice cracking.
A delay in forming a government could push back the start of Brexit talks, now scheduled for June 19, and reduce the time available for what are expected to be the most complex negotiations in post-World War Two European history.
"I would have thought that's enough to go, actually, and make way for a government that will be truly representative of all of the people of this country". In one of many striking moments, the party lost the seat of Canterbury for the first time in a century.
Despite suffering a devastating night of losses where the decision to gamble on a snap election backfired spectacularly, Theresa May insisted that her party would provide Britain with "post-election stability".
Corbyn, who would be in charge of negotiating any coalition deal, has said he will ensure there is a deal agreed with the European Union before Britain leaves, and give parliament a "meaningful vote" on whether to accept the terms of a final deal.
The news follows Ms May's statement in which she said it is her party's responsibility to now try and ensure the country's stability ahead of brexit talks.
One reason May called an early election was to enlarge the Tory majority so that she had a buffer against the 60 or so Conservative lawmakers most passionate about Brexit and who remember she didn't vote for it.
At the last general election in 2015, the Scottish National Party (SNP) picked up 56 seats out of Scotland's 5953 seats out of Scotland's 56. Labour had won 260, up from 229.
From the EU's perspective, the upset in London meant a possible delay in the start of the talks and an increased risk that negotiations would fail.
Législatives-Wade tête de liste :Viviane Wade dit non
D'après les mêmes informations, bien que tête de liste nationale, il est peu sûr que Wade vienne au Sénégal pour battre campagne. Aussi s'est-il déchaîné sur lui et les ténors du PDS. " C'est triste de le voir être manipulé par son fils".
He told ITV: "If this is correct we'll have another general election soon".
Britain has been hit with three terror attacks since March, and campaigning was twice suspended.
The attacks led to scrutiny over May's time as interior minister from 2010 to 2016, particularly since it emerged that some of the attackers had been known to police and security services.
The prime minister could be gone by the end of the day, she could stay on for some months or she could attempt to continue for longer.
Much will depend on the wishes of the Democratic Unionist Party MPs from Northern Ireland, who would be her most likely allies.
Brexit is also now up in the air - as even David Davis admitted.
Corbyn initially replied that he would not take part in the debate unless she attended, but cannily changed his mind, joining the leading candidates on the podium on May 31, with the Conservatives represented by May's interior minister, Amber Rudd.
May called the election with the aim of winning an enhanced mandate for her approach to Brexit, which means leaving the single market, the customs union and the jurisdiction of the European Court of Justice. But former business minister Vince Cable won his back, and party leader Tim Farron held on.
Analysis suggested that Labour had benefited from a strong turnout among young voters. In a night that threatened to redraw the political landscape once again, the UK Independence Party (UKIP), which won 12.5 per cent of the vote two years ago and was a driving force behind the Brexit vote, was all but wiped out, hovering around two percent.
Where the center-right Conservatives had hoped to take seats from the main opposition Labour Party, the reverse happened. "Her position I think is very, very hard".
"It is exactly the opposite of why she held the election and she then has to go and negotiate Brexit in that weakened position", said Professor Tony Travers of the London School of Economics.
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