By David Scott | Monday 9 September 2019
Britain’s constitutional crisis has hit before the next great spasm of Europe’s intractable monetary crisis. But they are in close competition. The eurozone faces a category five economic storm. It is structurally defenceless as the world slides into recession. This will not be an ordinary downturn because central banks no longer have the instruments to fight it. If there is an October election in the UK - and if it delivers a bigger Tory majority as polls suggest - EU leaders will have to decide whether to risk adding the shock of a no-deal Brexit to all the other shocks hitting their industries...
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