According to the conventional wisdom in the City, a hung parliament would be the worst of all worlds for Britain’s economy. It could cause executive gridlock which would prevent the Government mapping out a decisive plan to put right the public finances. This, in turn, would make a credit rating downgrade all the more likely, which in turn would increase the prospects of a UK fiscal crisis of the Greek variety. If the initial polls are to be believed (and of course they ought always to be taken with a pinch of salt), last night’s performance on the inaugural television debate makes a hung parliament all the more likely. According to Michael Saunders of Citigroup: “with three weeks to go, the… Read MoreHung Parliament: markets say 'so what?'
Sunday, 18 April 2010
APRIL 16TH, 2010 15:09
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