There is no doubt that “the markets” will viciously attack Britain. The question is, what to do? That the Labour Party would prefer not to be confronted with this problem and is trying to appease the markets in advance is not surprising. The question is, is this the only solution to the problem and is it wisely chosen. The markets have no interest in appeasement, just the optimal conditions to make profits at the cost of society. It is winner take all. Do the people always have to be the losers?
Read Simon Wren-Lewis´s response to Mitchell here