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The Pound stayed roughly range bound yesterday as news that Standard & Poor were keeping their negative watch on the UK’s AAA credit rating, was later countermanded by a stock market recovery…read more

It’s taken five days but we finally have a government and although the Labour party tried an 11th hour comeback, like a hand poking up through the soil from the grave, the markets favourite solution for the government, a Liberal/Conservative coalition, is now a done deal. The make up of the cabinet is still to be decided, but as Gordon Brown resigned, for the 2nd time in two days, the Pound put in a strong rally…read more

As the election was held last Thursday the MPC meeting has been put back to today, although as there is to be no change in rates or policy it will add little to the picture. There is little else out today to exercise the markets, so they will be left dealing with the fallout of the election and the Greek crisis…

Greece’s fiscal deficit is a problem that will not go away, it seems that every summit and agreement just leads to more issues down the line. The response from the EU has been lacklustre, and uncertain, with a lack of clarity on when it could be used, how much it would be for, and what financial restrictions it would impose on Greece…

Greece’s credit rating hasn’t proved to be as resilient as the UK’s, and it’s credit rating has been downgraded several times so that it now has to pay huge sums to borrow money- we are talking about the sorts of interest rates that you see quick loan companies advertising in the back of newspapers. Greece’s issues are compounded by the inflexibility of its labour force to adjust to austerity measures leading to strikes and general unrest.

If this election is about change (as every party is telling us, even the party that’s been in power for 13 years), then the change must come to the electoral system. The peculiarities of the first past the post system, now seem so embedded that election analysts on news programs can show charts with Labour getting the least votes of the three main parties and yet still end up with the largest number of seats, without any comment …

In spite of the media’s predictions, last night’s debate didn’t seem particularly historic, and disappointingly none of the politicians made any massive mistakes.

’s an historic day today, at least it is for the media who have got the leadership debate they have been demanding for years. There is no doubt that the debate will pull in viewers for the channels broadcasting it, but how much it will affect the parties prospects is uncertain.

There has been little reaction to the manifestos, either because they are both empty documents, or no-one actually thinks anything in them which proves problematic will ever be implemented. What did make a difference yesterday was a surprise narrowing in the trade balance deficit.