UniCredit – Britain will be “next country that is going to be pummelled by investors”
Kornelius Purps, Unicredit ’s fixed income director and a leading analyst in Germany thinks sterling stinks…
Has no-one informed Kornelius that talking down the pound is not the done thing over here? If we go under next week then it will be all his fault. Cos that’s how things work in Britain.
Daily Telegraph: “I am becoming convinced that Great Britain is the next country that is going to be pummelled by investors,” said Kornelius Purps, Unicredit ’s fixed income director and a leading analyst in Germany.
Mr Purps said the UK had been cushioned at first by low debt levels but the pace of deterioration has been so extreme that the country can no longer count on market tolerance.
“Britain’s AAA-rating is highly at risk. The budget deficit is huge at 13pc of GDP and investors are not happy. The outgoing government is inactive due to the election. There will have to be absolute cuts in public salaries or pay, but nobody is talking about that,”
Just not cricket. Perhaps some of our government’s esteemed communications advisors should have a quiet word.
