Posts Tagged ‘reshuffle’

It’s the economy, stupid.

Monday, September 1st, 2008 by Jon Clements

 

Now, unless you’ve been living on Mars or with that recently discovered tribe of rainforest indians, it can’t have escaped your notice that the economy’s in trouble.

So how can Chancellor of the Exchequer, Alistair Darling’s comments in the Guardian be blamed directly for a fall in the pound and the FTSE?

Commentators have been banging on for months about the likely longevity of this financial crisis, so how do the Chancellor’s words have such a direct influence on the markets?

Well, maybe they do; maybe they don’t. But, the point is, the confluence of these two events is too tempting not to connect in the eyes of the media. That might be exposing my somewhat rudimentary grasp of international finance, but it goes to show that loose talk - if not costing lives in this instance - may not help Mr Darling come Cabinet reshuffle time.