Don’t mean to scare-monger, but consider this chart, plucked from a Credit Suisse note penned by Yiagos Alexopoulos and team. On the bank’s number crunching, the UK is just one of just two countries where fiscal stress has worsened this year — the other being Slovenia…
Alexopoulos blames “growing external balances,” along with the “deterioration of some competitiveness variables,” which is all rather unspecific.
No matter. More details in the usual place.